<?xml version="1.0" encoding="UTF-8"?><edgarSubmission xmlns="http://www.sec.gov/edgar/ownership" xmlns:com="http://www.sec.gov/edgar/common">
  <headerData>
    <submissionType>144</submissionType>
    <filerInfo>
      <filer>
        <filerCredentials>
          <!-- Field: Pseudo-Tag; ID: Name; Data: PEP TG Investments GP LLC -->
          <cik>0001849690</cik>
          <ccc>XXXXXXXX</ccc>
        </filerCredentials>
      </filer>
      <liveTestFlag>LIVE</liveTestFlag>



    </filerInfo>
  </headerData>
  <formData>
    <issuerInfo>
      <issuerCik>0000837465</issuerCik>
      <issuerName>Callaway Golf Co</issuerName>
      <secFileNumber>001-10962</secFileNumber>
      <issuerAddress>
        <com:street1>2180 Rutherford Road</com:street1>
        <com:city>Carlsbad</com:city>
        <com:stateOrCountry>CA</com:stateOrCountry>
        <com:zipCode>92008-7328</com:zipCode>
      </issuerAddress>
      <issuerContactPhone>760-931-1771</issuerContactPhone>
      <nameOfPersonForWhoseAccountTheSecuritiesAreToBeSold>PEP TG Investments LP</nameOfPersonForWhoseAccountTheSecuritiesAreToBeSold>
      <relationshipsToIssuer>
        <relationshipToIssuer>10% Stockholder</relationshipToIssuer>
      </relationshipsToIssuer>
    </issuerInfo>
    <securitiesInformation>
      <securitiesClassTitle>Common Stock, $0.01 par value</securitiesClassTitle>
      <brokerOrMarketmakerDetails>
        <name>BofA Securities, Inc.</name>
        <address>
          <com:street1>One Bryant Park</com:street1>
          <com:city>New York</com:city>
          <com:stateOrCountry>NY</com:stateOrCountry>
          <com:zipCode>10036</com:zipCode>
        </address>
      </brokerOrMarketmakerDetails>
      <noOfUnitsSold>10000000</noOfUnitsSold>
      <aggregateMarketValue>156000000.00</aggregateMarketValue>
      <noOfUnitsOutstanding>183883637</noOfUnitsOutstanding>
      <approxSaleDate>01/26/2026</approxSaleDate>
      <securitiesExchangeName>NYSE</securitiesExchangeName>
    </securitiesInformation>
    <securitiesToBeSold>
      <securitiesClassTitle>Common Stock, $0.01 par value</securitiesClassTitle>
      <acquiredDate>03/08/2021</acquiredDate>
      <natureOfAcquisitionTransaction>The selling securityholder named above acquired the shares of the Issuer pursuant to a merger with Topgolf International, Inc., in exchange for shares of Topgolf International, Inc. owned by such securityholder.</natureOfAcquisitionTransaction>
      <nameOfPersonfromWhomAcquired>Callaway Golf Company</nameOfPersonfromWhomAcquired>
      <isGiftTransaction>N</isGiftTransaction>
      <amountOfSecuritiesAcquired>10000000</amountOfSecuritiesAcquired>
      <paymentDate>03/08/2021</paymentDate>
      <natureOfPayment>See Nature of Acquisition Transaction column</natureOfPayment>
    </securitiesToBeSold>
    <nothingToReportFlagOnSecuritiesSoldInPast3Months>Y</nothingToReportFlagOnSecuritiesSoldInPast3Months>
    <remarks>Aggregate market value is as of January 23, 2026.</remarks>
    <noticeSignature>
      <noticeDate>01/26/2026</noticeDate>
      <signature>/s/ Sarah Conde, Vice President, Secretary and Authorized Signatory</signature>
    </noticeSignature>
  </formData>
</edgarSubmission>
