[3] Though generally uncommon, it is the most common species of Astur in most of its range, but it does not occur at altitudes above 2,700 metres (8,900 ft) such as the highest parts of the Andes.

In 2024 a comprehensive molecular phylogenetic study of the Accipitridae confirmed earlier work that had shown that the genus was polyphyletic.

[7][8] The genus Astur was resurrected to accommodate 9 species, including the bicolored hawk, that had previously been placed in Accipiter.

The resurrected genus had been introduced in 1799 by the French naturalist Bernard Germain de Lacépède.

[11] Until recently, the Chilean hawk (A. chilensis) from the colder, southernmost South America was treated as a race of A. bicolor but due to its differences in habitat preferences and plumages from the bicolored hawk, A. chilensis is now considered a full species.

Its range extends from Mexico to west Ecuador, the Guianas to Colombia, south to east Peru, through Amazonian Brazil to Paraguay, north-northwestern Argentina,north of Uruguay,Bolivia and to Chile.

[18] During incubation, males give a sharp "kek" vocalisation upon arrival to the nest with food, to which the female replies with a nasal "wreh".

[4] Several instances where the hawks attack groups of squirrel monkeys or tamarins have been witnessed.

[11] Bicolored hawks breed in forest areas, choosing to build nests on tree branches and occasionally hanging vines.

The nest is built in cooperation between the male and female and is constructed from dried sticks and leaves.