Hypoviruses are positive-sense single-stranded RNA mycovirus that infect filamentous fungi. However, hypoviruses have not been reported in Bipolaris oryzae, an important phytopathogenic fungus in water bamboo and rice. Here, we report the characterization of a novel hypovirus, tentatively named "Bipolaris oryzae hypovirus 1" (BoHV1), isolated from strain ES35 of B. oryzae infecting water bamboo. The complete genome of BoHV1 consists of 13,596 nucleotides and a poly(A) tail at the 3' end. BoHV1 has single open reading frame (ORF) and encodes a putative polyprotein (4,218 amino acids) containing four potential conserved domains for a papain-like protease, a protein of unknown function (DUF3525), RNA-dependent RNA polymerase (RdRp), and helicase. Phylogenetic analysis of the polyprotein, RdRp, and helicase domains suggested that BoHV1 belongs to the genus Hypovirus within the family Hypoviridae. This is the first report of the presence of a hypovirus in the phytopathogenic fungus B. oryzae.