The satyr tragopan is a most striking bird both in colour and carriage. The male has a mostly black head with a red band bordering the crest. The upper back, neck, upper breast and shoulders are of a deep crimson red with the lower breast being a deeper red in colour. The remainder of the bird is various shades of brown, rufous and black, in a vermiculated pattern. The tail is mostly brown with the lower portion giving way to black. Almost the entire bird, with the exception of the head, upper breast, neck and tail, is covered with various sizes of white to grey ocelli ringed in black. The iris is brown; bill, black; and legs, pink. Like all tragopans, there is a fleshy, patterned bib or lappet, and horns that are displayed to various degrees during courtship.

The female is basically brown to rufous vermiculated with black, and paler on the abdomen with feathers having cream to white centres.