Utricularia biloba is a perennial bladderwort endemic to New South Wales and Queensland, Australia. It thrives in hot, waterlogged environments with abundant sunlight and produces striking bluish-purple flowers characterized by two distinct lower corolla lobes. Unlike most other terrestrial Utricularia species, the leaves of this species branch out over the surface of water. This species performs best when grown under semi-aquatic conditions, where its photosynthetic leaves remain consistently moist or partially submerged.