Hypacrosaurus (meaning "near the highest lizard" [from Ancient Greek ὑπο- hypo- "less" and ἄκρος akros "high"], because it was almost but not quite as large as Tyrannosaurus) is an extinct genus of duckbill dinosaur similar in appearance to Corythosaurus. Like Corythosaurus, it had a tall, hollow rounded crest, although not as large and straight. It is known from the remains of two species that spanned 75.0 to 69.5 million years ago, in the Late Cretaceous of Alberta, Canada, and Montana, United States, and is the latest hollow-crested duckbill known from good remains in North America. It was an obscure genus until the discovery in the 1990s of nests, eggs, and hatchlings belonging to H. stebingeri.

The type remains of Hypacrosaurus were collected in 1910 by Barnum Brown for the American Museum of Natural History. The remains, a partial postcranial skeleton consisting of several vertebrae and a partial pelvis (AMNH 5204), came from along the Red Deer River near Tolman Ferry, Alberta, Canada, from rocks of what is now known as the Horseshoe Canyon Formation (early Maastrichtian, Upper Cretaceous). Brown described these remains, in combination with other postcranial bones, in 1913 as a new genus that he considered to be like Saurolophus. No skull was known at this time, but two skulls were soon discovered and described.

During this period, the remains of small hollow-crested duckbills were described as their own genera and species. The first of these that figure into the history of Hypacrosaurus was Cheneosaurus tolmanensis, based on a skull and assorted limb bones, vertebrae, and pelvic bones from the Horseshoe Canyon Formation. Not long after, Richard Swann Lull and Nelda Wright identified an American Museum of Natural History skeleton (AMNH 5461) from the Two Medicine Formation of Montana as a specimen of Procheneosaurus. These and other taxa were accepted as valid genera until the 1970s, when Peter Dodson showed that it was more likely that the "cheneosaurs" were the juveniles of other established lambeosaurines. Although he was mostly concerned with the earlier, Dinosaur Park Formation genera Corythosaurus and Lambeosaurus, he suggested that Cheneosaurus would turn out to be composed of juvenile individuals of the contemporaneous Hypacrosaurus altispinus. This idea has become accepted, although not formally tested. The Two Medicine Procheneosaurus, meanwhile, was not quite like the other Procheneosaurus specimens studied by Dodson, and for good reason: it was much more like a species that would not be named until 1994, H. stebingeri.

H. altispinus, the type species, is known from 5 to 10 articulated skulls with some associated skeletal remains, from juvenile to adult individuals found in the Horseshoe Canyon Formation. H. stebingeri is known from an unknown but substantial number of individuals, with an age range of embryos to adults. The hypothesis that H. altispinus and H. stebingeri form a natural group excluding other known hadrosaur species may be incorrect, as noted in Suzuki et al.'s 2004 redescription of Nipponosaurus; their phylogenetic analysis found that Nipponosaurus was more closely related to H. altispinus than H. stebingeri was to H. altispinus. This was rejected by Evans and Reisz (2007), though.

The new species Hypacrosaurus stebingeri was named for a variety of remains, including hatchlings with associated eggs and nests, found near the top of the late Campanian (Upper Cretaceous) Two Medicine Formation in Glacier County, Montana, and across the border in Alberta. These represent "the largest collection of baby skeletal material of any single species of hadrosaur known".

Hypacrosaurus is most easily distinguished from other hollow-crested duckbills (lambeosaurines) by its tall neural spines and the form of its crest. The neural spines, which project from the top of the vertebrae, are 5 to 7 times the height of the body of their respective vertebrae in the back, which would have given it a tall back in profile. The skull's hollow crest is like that of Corythosaurus, but is more pointed along its top, not as tall, wider side to side, and has a small bony point at the rear. Unlike other lambeosaurines, the passages for the airways do not form an S-curve in the crest (at least not in H. altispinus). The animal is estimated to have been around 9.1 meters (30 feet) long, and to have weighed up to 4.0 tonnes (4.4 tons). As with most duckbills, its skeleton is otherwise not particularly remarkable, although some pelvic details are distinctive. Like other duckbills, it was a bipedal/quadrupedal herbivore. The two known species, H. altispinus and H. stebingeri, are not differentiated in the typical method, of unique characteristics, as H. stebingeri was described as transitional between the earlier Lambeosaurus and later Hypacrosaurus.

Hypacrosaurus was a lambeosaurine hadrosaurid, and has been recognized as such since the description of its skull. Within the Lambeosaurinae, it is closest to Lambeosaurus and Corythosaurus, with Jack Horner and Phil Currie (1994) suggesting that H. stebingeri is transitional between Lambeosaurus and H. altispinus, and Michael K. Brett-Surman (1989) suggesting that Hypacrosaurus and Corythosaurus are the same genus. These genera, particularly Corythosaurus and Hypacrosaurus, are regarded as the "helmeted" or "hooded" branch of the lambeosaurines, and the clade they form is sometimes informally designated Lambeosaurini. Although Suzuki et al.'s 2004 redescription of Nipponosaurus found a close relationship between Nipponosaurus and Hypacrosaurus stebingeri, indicating that Hypacrosaurus may be paraphyletic, this was rejected in a later, more comprehensive reanalysis of lambeosaurines, which found the two species of Hypacrosaurus to form a clade without Nipponosaurus, with Corythosaurus and Olorotitan being the closest relatives.

The following cladogram illustrating the relationships of Lambeosaurus and its close relatives was recovered in a 2022 phylogenetic analysis by Xing Hai and colleagues. Unlike other modern analyses, they found the genus Magnapaulia to be within Hypacrosaurus, indicating it could be a potential third species.