Xerochrysum bicolor is a flowering plant in the family Asteraceae, native to Tasmania, where it is found in wetter habitats near the coast.

It was originally described by Lindley in 1835 as Helichrysum bicolor,[1] before gaining its current name in 2001.

The inflorescence bracts are papery, the outer ones orange-brown in colour, and the inner ones yellow.

It is distinguished from Xerochrysum bracteatum by its narrower leaves.

[3] The species may be sunk into X. bracteatum in a future revision.