Masaya () is a caldera located in Masaya, Nicaragua, 20 km south of the capital Managua. It is Nicaragua's first and largest national park, and one of 78 protected areas of Nicaragua. The complex volcano is composed of a nested set of calderas and craters, the largest of which is Las Sierras shield volcano and caldera. Within this caldera lies a sub-vent, which is Masaya Volcano "". The vent is a shield type composing of basaltic lavas and tephras and includes a summit crater. This hosts Masaya caldera, formed 2,500 years ago by an 8-km³ basaltic ignimbrite eruption. Inside this caldera a new basaltic complex has grown from eruptions mainly on a semi-circular set of vents that include the Masaya and Nindiri cones. The latter host the pit craters of Masaya, Santiago, Nindiri and San Pedro. Observations in the walls of the pit craters indicate that there have been several episodes of cone and pit crater formation.