The T-55AGM is a Ukrainian modernization of the T-54/T-55 medium tank developed by the Kharkiv Morozov Machine Building Design Bureau (KMDB).

Although the T-54/T-55 series are over 70 years old, a significant number of vehicles still remain in service worldwide, and after successfully working on the development of the T-80UD and T-84 tanks, KMDB turned its attention to the export market in the 2000s, and built a prototype called the T-55AGM featuring significant improvements in protection, mobility, and firepower.

[2] The tank is fitted with a 5TDFM, two-stroke liquid-cooled multi-fuel supercharged diesel engine with opposed pistons which develops 850 horsepower (hp) (634 kW),[3] improved running gear.

The T-55AGM has built-in explosive reactive armour, countermeasures system, new fire suppression system with over-ride facilities at the commander's station, automatic loader which holds 18 rounds and anti-aircraft machine gun that can be aimed and fired from within the turret under a complete armour protection.

The 125 mm KBM1 smoothbore gun weighs 2.5 tonnes, has a barrel length of 6 m (48 calibers) and can fire armour-piercing fin-stabilized discarding sabot (APFSDS), high-explosive anti-tank (HEAT), and high explosive (HE) fragmentation (HE-FRAG) rounds, while the 120 mm KBM2 smoothbore gun weighs 2.63 tonnes, has a barrel length of 6 m (50 calibers) and can fire all types of ammunition that meet the requirements of NATO standards and Ukrainian-made ATGMs.