A 2022 taxonomic revision distinguishes Eupetaurus tibetensis from the other Himalayan woolly flying squirrels. In 2026, the first confirmed record from eastern Nepal was reported.
The back is brownish grey, sometimes with reddish tones along the midline, rump and tail base. The underside is grey with a yellow wash, and the bushy tail has a black tip.
A camera during a snow-leopard survey recorded it at one site in Nepal at night. The site included alpine grassland, exposed rocks and shrubland.
An extinction-risk assessment has not been added yet.