[3] Acanthurus olivaceus was first formally described in 1801 by the German naturalists Marcus Elieser Bloch and Johann Gottlob Theaenus Schneider with its type locality given as Tahiti in the Society Islands,[4] This species is closely related to the range restricted Marquesas surgeonfish (A. reversus), and together these taxa form a species complex within the genus Acanthurus.

Like all surgeonfish, this species has a pair of scalpel-like scales that project upward from the caudal peduncle.

As an adult, it is a solitary fish or sometimes joins schools, with a depth range of between about 9 and 46 m (30 and 150 ft), but juveniles are found in shallower water in sheltered locations in small groups.

[2] It often forms schools with parrotfish, tangs and other species of surgeonfish, which all have similar diets; their grazing is important in maintaining biodiversity by keeping rocks free from excessive growth of algae so that coral larvae can find suitable habitat to settle.

[8][better source needed] The orange band surgeonfish has a wide distribution in the tropical Indo-Pacific region and is moderately common.