Iota Octantis, Latinized from ι Octantis, is a double star in the southern circumpolar constellation Octans. The two components are separated by less than an arc-second, so cannot be resolved without a telescope, but their combined apparent magnitude of 5.45 makes Iota Octantis faintly visible to the naked eye in dark skies. The system is located at a distance of 350 light years based on its annual parallax shift, and is drifting away at a rate of .
Iota Octantis A has a classification of K0 III, which indicates that it is an evolved K-type star that exhausted hydrogen at its core and left the main sequence. Iota Octantis B also has a spectral type of K0. At present Iota Octantis A has 2.49 times the mass of the Sun and radiates at 81 times the luminosity of the Sun from its enlarged photosphere at an effective temperature of , which gives it an orangish-yellow hue. Iota Octantis is metal deficient and spins slowly with a projected rotational velocity of .
Eggleton et al. states that both stars have similar spectral types, but there is a faint tenth magnitude companion with a classification of F8 located away, which is unrelated to the two.
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