The pearly antshrike (Megastictus margaritatus) is a species of bird in subfamily Thamnophilinae of family Thamnophilidae, the "typical antbirds".

[3] The pearly antshrike was described by the English zoologist Philip Sclater in 1855 and given the binomial name Myrmeciza margaritatus.

Adult males have a gray face, crown, and upperparts with white tips on the uppertail coverts.

It mostly forages singly, in pairs, and family groups, and seldom as a member of a mixed-species feeding flock.

[6][7][8][9] A nesting pair of pearly antshrikes was recorded in August in Brazil but the species' breeding season is otherwise unknown.

One nest was a cup made of plant fibers, rootlets, and dead leaves, suspended from a fork low down in a sapling.

The pearly antshrike's song is "2–3 slowly delivered whistles, slurred up and down, followed by 6–7 flat raspy notes at much faster pace".

[8] Its alarm or contact call is "whistled, upslurred 'wheet' notes" and it makes a "hard rattle" in agonistic encounters.

"Existence of vast areas of relatively inaccessible, intact, and seemingly suitable habitat should guarantee that this species is not at risk.