Chaetopelma olivaceum is a species of mygalomorph spider, belonging to the tarantula family (Theraphosidae).

[2] The color varies between black, gray and brown dark; they tend to be paler in the cooler more forested regions of their range and darker in the southern more arid areas.

In the wild they can be found hiding under rocks or bark, but may reach human-occupied areas during migrations.

When the spider feels threatened, it lifts its front torso, swinging its feet to expose a red stain on its mouth and fangs.

In Palestine two species of spider wasp, Hemipepsis brunnea and Pseudopompilus humboldti, have been recorded as predators on Chaetopelma olivaceum.