Lasiopetalum schulzenii, commonly known as drooping velvet bush, is a common shrub of the mallow family. It was first described in the genus Corethrostylis by botanist Ferdinand von Mueller in a paper presented before the Royal Society of Victoria; that genus was treated as a section of Lasiopetalum by George Bentham in his 1863 Flora Australiensis, resulting in the current name. The species was named after the 19th century botanist Ludwig F. Schulzen.