Valdez is a city in the Chugach Census Area in the U.S. state of Alaska. According to the 2020 US Census, the population of the city is 3,985, up from 3,976 in 2010. It is the third most populated city in Alaska's Unorganized Borough. The city was named in 1790 after the Spanish Navy Minister Antonio Valdés y Fernández Bazán. A former Gold Rush town, it is located at the head of Port Valdez on the eastern side of Prince William Sound.