Lactarius alnicola, commonly known as the golden milkcap, is a species of fungus in the family Russulaceae. The fruit bodies produced by the fungus are characterized by a sticky, vanilla-colored cap up to 20 cm (8 in) wide with a mixture of yellow tones arranged in faint concentric bands. The stem is up to 5 cm (2 in) long and has yellow-brown spots. When it is cut or injured, the mushroom oozes a white latex, which has an intensely peppery taste. The acrid taste of the fruit bodies renders them unpalatable. Two varieties have been named: var. pitkinensis, known from Colorado, and var. pungens, from Michigan.

The fungus is found in the western United States and Mexico, where it grows in mycorrhizal associations with various coniferous trees species, such as spruce, pine and fir, and deciduous species such as oak and alder. It has also been collected in India.