Abthorpe Parish is on a rolling rural landscape, typical of South Northamptonshire, mostly on the south side of the River Tove, but the southern part of the parish is on the north side of Silverstone Brook, a tributary of the Tove, which it joins in Towcester.
Grafton is on the southern ridge of the valley of the River Tove which flows east between the village and Stoke Bruerne to the north and then to the east of the village.
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The River Tove passes to the east of the village flowing into the River Great Ouse just south, the latter marking the boundary with Buckinghamshire and Milton Keynes.