The magnificent foxface was first formally described in 1977 as Lo magnificus by the American ichthyologist Warren E. Burgess with the type locality given as Phuket in the Andaman Sea off Thailand.

[4] S. magnificus has an allopatric range to the closely related foxface rabbitfish (S. vulpinus), which has a wide Western Pacific distribution.

[6] The background color of the body is white, broken by a large black saddle-like blotch with fine spots on its margins.

The adults are frequently encountered in pairs, while the secretive juveniles tend to occur solitarily and use the coral to provide shelter.

The reefs it is found on in Thailand are far enough offshore to be relatively safe from development and many are in protected areas.