Towanda is a village in McLean County, Illinois, United States. The population was 493 at the 2000 census. It is part of the Bloomington–Normal Metropolitan Statistical Area.
Landmarks of Towanda include a grain silo complex, local library, and Towanda Elementary School of Normal, Illinois School District Unit Number 5.
Towanda is located at 40°33′52″N 88°53′57″W / 40.56444°N 88.89917°W / 40.56444; -88.89917 (40.564435, -88.899048). According to the United States Census Bureau, the village has a total area of 0.7 square miles (1.8 km²), all land.