Catephia olivacea is a species of moth of the family Erebidae. It is found on Borneo. Adults are greenish cinereous, the forewings thinly black-speckled, with black basal, interior and exterior zigzag lines. The reniform spot is incompletely bordered with black and there is a short broad blackish mark near the exterior border towards the tip. The marginal spots are black. The hindwings are brown, but white towards the base.