Astragalus malacus is a species of milkvetch known by the common name shaggy milkvetch. It is native to the Great Basin in the western United States.
Astragalus malacus is perennial herb growing upright to a maximum height near 40 centimeters. Its leaves are up to 15 centimeters long and are made up of many oval-shaped leaflets. The inflorescence bears up to 35 magenta flowers, each up to 2 centimeters long. Stem, leaves, inflorescence, and sepals are coated in long, white hairs. The fruit is a densely hairy, papery legume pod up to 4 centimeters in length.