Kemajuan teknologi telah mempermudah lembaga keuangan di Indonesia, salah satunya dengan hadirnya pinjaman online. Namun, maraknya pinjaman online ilegal menimbulkan masalah, sehingga pemerintah membentuk Otoritas Jasa Keuangan (OJK) untuk mengawasi dan menangani pinjaman ilegal. Penelitian ini menggunakan metode yuridis normatif dengan data sekunder dari bahan hukum primer, sekunder, dan tersier. Teknik pengumpulan data dilakukan melalui studi kepustakaan dan analisis kualitatif. Hasil penelitian menunjukkan bahwa OJK berperan penting sebagai regulator pinjaman online di Indonesia, dengan dasar hukum Undang-Undang Nomor 21 Tahun 2011 dan POJK Nomor 77/POJK.01/2016. Dalam pengawasannya, OJK bekerja sama dengan Satuan Tugas Waspada Investasi (SWI) untuk menindak operator ilegal. Pengawasan OJK mencakup pendaftaran, perizinan, evaluasi risiko, serta pencabutan izin jika diperlukan. Meskipun menghadapi keterbatasan dalam menangani pinjaman P2P ilegal, OJK terus berupaya meminimalkan pertumbuhannya. Berbagai mekanisme diterapkan untuk menciptakan industri pinjaman online yang sehat, aman, dan terpercaya. / The rapid development of the times supported by advances in technology and information has provided convenience to financial institutions in Indonesia, this is supported by the emergence of online loans. As a result of this change, many communities are helped and experience problems. The problems arise due to the emergence of illegal online loans, so the government formed an OJK Institute to supervise and resolve illegal Online Loans. The research method used is a normative juridical law research method and uses secondary data, which includes primary legal material, secondary legal material and tertiary legal material. The data collection techniques used are library research and analyzing data with the nature of qualitative analysis. The results show that OJK has an important role as an online lending regulator in Indonesia, with the main legal basis in the form of Law Number 21 of 2011 and OJK Regulation Number 77 / POJK.01 / 2016. In supervising Online Loans, OJK collaborates with the Investigation Alert Task Force (SWI) to crack down on illegal Online Loan operators. OJK supervision includes registration, licensing, provisions, and regulations with steps to accept registration, risk evaluation, and license revocation if necessary. Although OJK faces limitations in handling illegal P2P lending, efforts continue to be made to minimize the growth of illegal Pinjol. Through various mechanisms, OJK strives to create a healthy, safe, and reliable Pinjol industry environment.