Iowa Highway 137 is a north–south highway in southern Iowa. It has a length of 14 miles (23 km). The route begins at Iowa Highway 5 in Albia and ends at U.S. Route 63 in Eddyville.

Iowa 137 begins at a Y intersection with Iowa 5 in Albia. From Albia, it travels north through rolling farmland for 4 miles (6.4 km) before turning northeast towards Eddyville. Iowa 137 crosses the Des Moines River just 0.5 miles (0.80 km) from its end at U.S. Route 63 in Eddyville.

Iowa 137 was designated on December 4, 1934, replacing a section of Iowa Highway 59. Originally, it began at U.S. Route 34 (Benton Avenue) in downtown Albia. Later, the southern end was moved to its present location at Iowa Highway 5.

Before July 16, 1997, Iowa Highway 137 extended north from Eddyville to Oskaloosa. An expressway was being built which would connect Des Moines to Burlington. U.S. Route 63 was realigned onto this new expressway, replacing Iowa Highway 23 from Ottumwa to Eddyville and Iowa 137 from Eddyville to Oskaloosa. Iowa 23 ended at Iowa 137 in approximately the same area where Iowa 137 ends at US 63.