Eucalyptus elaeophloia is a tree or mallee that typically grows to a height of 4–12 m (13–39 ft) and forms a lignotuber.

[2][4][5] Eucalyptus elaeophloia was first formally described in 1990 by Jennifer Chappill, Michael Crisp and Suzanne Prober in the journal Australian Systematic Botany.

[6] The specific epithet (elaeophloia) is derived from the ancient Greek word elaia meaning "olive",[7] referring to the greenish colour of the bark.

[2] This species is closely related to Eucalyptus imlayensis which occurs in New South Wales.

[4] Due to widespread bushfires in 2003, the known habitat of the species was completely burnt, however most individuals have since resprouted from trunks and lignotubers.