The Olifant Mk.2 ('Elephant' in Afrikaans) is a South African MBT developed as an upgrade of the Olifant Mk.1B in 2004. Introduced in the early 1990s to replace the Olifant Mk.1A, the Olifant Mk.1B featured a 940 hp engine, additional turret armour and extra side skirts. The running gear was completely redesigned with the addition of torsion bars to the main road wheels and hydraulic shock absorbers to the first and last pairs. The Mk.2 represents further improvements to the tank. Its engine power was increased to 1,040 hp, a thermal sight was installed and the tank was fitted with enhanced frontal armour. The tank entered service with the South African National Defence Force in 2007. According to various sources, around 20–26 vehicles underwent the upgrade.

The Olifant Mk.2 was introduced in Update 2.5 "Ixwa Strike". While the tank features a high-quality thermal sight and effective APFSDS rounds, its outdated chassis limits protection and mobility.