Cramauchenia is known for the sole species C. normalis. Another species, C. insolita, was initially described as a separate species, but following a study by Soria 1981 it has since been attributed to the type species.
Cramauchenia was first described by Florentino Ameghino in 1902, based on fossils found in the Sarmiento Formation of Argentina. It is a primitive representative of the Macraucheniidae, a group of South American mammals belonging to the Litopterna, with forms similar to those of camelids, despite not being closely related.