Callionymus kailolae, Kailola's deepwater dragonet or the Northwestern ocellated dragonet, is a species of dragonet native to the Indian Ocean off of western Australia where this deep-water species is found at depths of from 200 to 204 metres (656 to 669 ft). The specific name honours Patricia Kailola of Newnham, Tasmania who published a photograph of the new species, "in appreciation of her interest in callionymid fish research".