The genus and species Chimaeropsis paradoxa was originally erected in 1887 by Zittel, based on a "'fairly well-preserved skeleton", which was around 1 metre (3.3 ft) long found in the Upper Jurassic Plattenkalk limestones of Germany.

This specimen, while partially described by both Zittel and Riess in 1887 and later again by Reiss in 1895, was never properly figured and is assumed to have been destroyed by bombings during World War II.

[2] In 2018, a new complete skeleton of C. paradoxa was from the Plattenkalk limestones was mentioned in a conference abstract[3] and then fully described in 2025, illuminating the anatomy of the species.

[1] In addition to C. paradoxa, two other species have been recognised, these include C. franconicus (originally described as a species of Myriacanthus) known from a single fin spine found around Rabenstein in Bavaria, Germany, also dating to the Late Jurassic,[1] as well as C. foussi, which was erected from a single fragmentary tooth plate found in limestone deposits from near Ethe, Belgium, dating to the Sinemurian stage of the Early Jurassic.

Unlike members of Myriacanthidae, the rostrum of C. paradoxa is very short and blunt, with the head making about 25% of the total length, and over half as deep as it is long.