Phebalium megaphyllum is a species of erect, rounded shrub that is endemic to Western Australia.

The five sepals are 3.5–4.5 mm (0.14–0.18 in) long, joined for half their length and covered with rust-coloured scales on the outside.

[2][3] This phebalium was first formally described in 1907 by Alfred James Ewart who gave it the name Eriostemon tuberculosus var.

[6][7] Phebalium megaphyllum grows in scrub on undulating plains, ironstone hills and breakaways between Mullewa, Coolgardie and Ravensthorpe.

[2][3] This phebalium is classified as "not threatened" by the Government of Western Australia Department of Parks and Wildlife.