Paracraga canalicula is a moth in the Dalceridae family. It was described by Dognin in 1910. It is found in Colombia and Peru. The habitat consists of tropical wet, tropical moist and tropical premontane wet forests. The length of the forewings is 10–11 mm for males and 15 mm for females. Adults are similar to Paracraga argentea, but the lines on the forewings are straighter and more parallel, enclosing a narrower space. Adults are on wing from October to March and in May.