[2] For a time in the mid-twentieth century the ochre-bellied flycatcher was placed in genus Pipromorpha, which by the 1980s had been merged into Mionectes.

A study published in 2008 suggested that Pipromorpha be resurrected for this species and two others but that action has not been followed.

The study did reveal that, rather than the uplifting of the Andes giving rise to the ochre-bellied flycatcher's subspecies, at least four separate lineages including some trans-Andean movement are responsible.

Adults of the nominate subspecies M. o. oleagineus have a greenish olive head, nape, back, and rump.

It usually forages by itself and occasionally joins a mixed-species feeding flock, especially at fruiting trees.

[5][10][12] Male ochre-bellied flycatchers court both singly and at leks, with about half of the overall population using each strategy.

The species' breeding seasons vary geographically but have not been fully defined.

The species makes a pear-shaped nest with a side entrance using plant material covered with moss and lined with soft fibers.