Cryodraco antarcticus was first formally described in 1900 by the Belgian palaeontologist Louis Dollo with the type locality given as 71°22'S, 88°38'W, or 71°18'S, 88°02'W.

[3] Cryodraco antarcticus is pale greyish-brown with 5-6 dark cross-bars on its body and dusky-tipped pelvic fins.

[4] Cryodraco antarcticus is found near the South Orkney Islands, the Antarctic Peninsula, the Weddell, Bellinghausen, Ross and Davis seas at depths of 90 to 600 m (295 to 1970 ft).

[1] It is closely related to the blackfin icefish (Chaenocephalus aceratus) but differs in a number of meristic characteristics.

They are similar in size, colouration and body shape, as well as sharing a many biological characters, including breeding behaviour, and diet.