Phebalium elegans is a species of spreading shrub that is endemic to Western Australia.

The leaves are wedge-shaped, covered with warty glands, about 5 mm (0.20 in) long and 2–3 mm (0.079–0.118 in) wide, glabrous on the upper surface and covered with silvery scales below.

The petals are broadly elliptical, 4–5 mm (0.16–0.20 in) long and covered with silvery to rust-coloured scales on the back.

[2][3][4] Phebalium elegans was first formally described in 1998 by Paul Wilson in the journal Nuytsia from specimens collected in the Fraser Range east of Norseman by Kenneth Newbey in 1980.

[2][4] This phebalium is classified as "not threatened" by the Western Australian Government Department of Parks and Wildlife.