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Heliocles II Dicaeus (; epithet means "the just") is thought to have been one of the later Indo-Greek kings and a relative of the Bactrian king Heliocles I. Current scholarly consensus is that he ruled ca 95–80 BC.
Heliocles II seems to have been engaged in a series of wars with Strato I in Gandhara and Punjab region; the two share several mintmarks and Heliocles II overstruck many of his coins. During this period, a number of kings fought for hegemony in the Indo-Greek territories. Some of them were likely supported by nomad Saka rulers such as Maues.
He goes on to suggest that Heliocles was the older brother of the king Archebius Nikephoros Dikaios, who seems to have succeeded Heliocles II in Gandhara (perhaps after his death from disease; Heliocles I looks emaciated on his later portraits). Archebius uses a very similar reverse and combines the epithets of Heliocles II and Antialcidas; in addition, their coin portraits are similar, with hooked noses and fierce expressions.
R.C. Senior has instead suggested a connection with Demetrius III, who used a similar reverse of standing Zeus.
It is uncertain whether he struck Attic coins. A number of posthumous coins for Heliocles I have been found in Bactria; possibly some of these may have been struck by Heliocles II, though there are no similar monograms.
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