Mississippi Highway 306 (MS 306) is a two-lane, east–west highway in Tate County, Mississippi. It runs from a western terminus at U.S. Route 51 (US 51) in Coldwater, to MS 305 in Independence.

MS 306 begins at US 51 in the northern section of the town of Coldwater. Approximately one mile (1.6 km) east of the western terminus, MS 306 passes through an grade-separated interchange with Interstate 55 (I-55). Thence, MS 306 continues east to its eastern terminus at MS 305 in the unincorporated community of Independence.