The light water graphite-moderated reactor (RBMK) is a Soviet nuclear reactor design, developed from plutonium production reactors. In fact it is a not a light water reactor (LWR) at all, in that this term is generally understood to refer to light water moderated reactors, such as PWRs and BWRs.

RBMK is an acronym for Russian words that translate to "large channel power reactor" (not in that order).

It employs long (7 metre) vertical pressure tubes running through graphite moderator, and is cooled by water, which is allowed to boil in the core at 290 °C, much as in a BWR. Fuel is low-enriched uranium oxide made up into fuel assemblies 3.5 metres long. With moderation largely due to the fixed graphite, excess boiling simply reduces the cooling and neutron absorption without inhibiting the fission reaction, and a positive feedback problem can arise (such as at Chernobyl, which was a RBMK reactor).

Because the water used to remove heat from the core in a light-water reactor absorbs some of the free neutrons normally generated during operation of the reactor, the concentration of the naturally fissionable U-235 isotope in uranium used to fuel light-water reactors must be increased above the level of natural uranium to assist in sustaining the nuclear chain reaction in the reactor core: the remainder of the uranium in the fuel is U-238. Increasing the concentration of U-235 in nuclear fuel uranium above the level that occurs in natural uranium is accomplished through the process of enrichment.

The fuel core for a light-water nuclear power reactor can have up to 3,000 fuel assemblies. An assembly consists of a group of sealed fuel rods, each filled with UO2 pellets, held in place by end plates and supported by metal spacer-grids to brace the rods and maintain the proper distances between them. The fuel core can be thought of as a reservoir from which heat energy can be extracted through the nuclear chain reaction process. During the operation of the reactor, the concentration of U-235 in the fuel is decreased as those atoms undergo nuclear fission to create heat energy. Some U-238 atoms are converted to atoms of fissile Pu-239, some of which will, in turn, undergo fission and produce energy. The products created by the nuclear fission reactions are retained within the fuel pellets and these become neutron-absorbing products (called "poisons") that act to slow the rate of nuclear fission and heat production. As the reactor operation is continued, a point is reached at which the declining concentration of fissile nuclei in the fuel and the increasing concentration of poisons result in lower than optimal heat energy generation, and the reactor must be shut down temporarily and refueled.

In 2003, several RBMK reactors were still operating but there were no plans to build any more, and there is international pressure to close those that remain.