It is found in Central and South America, including stretches of the Amazon rainforest in Brazil, Colombia, Ecuador, and Peru.

[5] In the central Amazon region, the tree produces fruit from March to November, and flowers from July to September.

Theobroma bicolor was historically cultivated by the Aztecs alongside T. cacao for production of chocolate, although when chocolate was introduced to the Spaniards, they considered the product of T. bicolor to be of a lower quality.

[5] The pulp which surrounds the seeds can be eaten fresh, and has a sweet, mild taste.

[7] Moniliophthora perniciosa, a fungus which causes "witch's broom disease" on T. cacao, was reported on a Brazilian specimen of T. bicolor in 1999.