Megaloxantha bicolor is a species of metallic wood-boring beetles in the family Buprestidae.

Megaloxantha bicolor is a large Buprestid, reaching a length of about 75 millimetres (3.0 in).

The typical colour of these beetles is metallic green, though it can also be blue, reddish, or blackish.

They feature two large yellow or whitish bands, one near the base and another postmedian.

This species can be found from India to Vietnam, Australia and the Philippines.