Diphasiastrum multispicatum, synonym Lycopodium multispicatum, is a species of plant in the family Lycopodiaceae. , Plants of the World Online used a broader circumscription of the genus Lycopodium, treating this species as Lycopodium multispicatum.
Diphasiastrum multispicatum is native to Central Asia (Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan and Uzbekistan), parts of Western Asia (Afghanistan, Iran, and Iraq), and China (south-central China, Tibet, and Xinjiang).