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Malcolm Scarth Isbister (August 31, 1850 – June 30, 1920) was a Scottish-born merchant and political figure in Saskatchewan, Canada. He served as mayor of Saskatoon in 1905.
He was born in the Orkney Islands, the son of John Isbister, and came to Galt, Canada West with his parents in 1857. Isbister was educated in Huron County and at the normal school in Toronto. He taught school in Ontario for a number of years. In 1874, Isbister married Margaret Sharpe.
He worked as a contractor for the Canadian Pacific Railway in 1883, then entered business as the junior partner with his brother Adam Isbister in Petrolia and Port Arthur where they purchased the stock and goodwill of merchant Noah Keen Street in November 1884. The firm assigned to its creditors after the death of Adam Isbister in March 1890. Isbister operated a hotel in Souris, Manitoba from 1892 to 1894 and then in Wawanesa from 1897 to 1903. He then moved to Saskatoon, where he opened a hardware business. Isbister served as town coroner, postmaster and as a member of the board of governors for the Saskatoon City Hospital. He was also president of the Board of Trade for several years.