It lived in the Cretaceous period, 115 million years ago, and is estimated to have been up to 4m (13ft) long belonging to the theropod. It has been named Vectaerovenator inopinatus and belongs to the group of dinosaurs that includes Tyrannosaurus rex and modern-day birds. The name refers to the large air spaces found in some of the bones - from the neck, back and tail of the creature - which is one of the traits that helped the scientists identify its theropod origins.
These air sacs, also seen in modern birds, were extensions of the lung, and it is likely they "helped fuel an efficient breathing system while also making the skeleton lighter." It's fossils were found in three separate discoveries in 2019 and handed in to the nearby Dinosaur Isle Museum at Sandown, where they are being displayed.
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University of Southampton study, said: "We were struck by just how hollow this animal was - it's riddled with air spaces.
"Parts of its skeleton must have been rather delicate.
"The record of theropod dinosaurs from the 'mid' Cretaceous period in Europe isn't that great, so it's been really exciting to be able to increase our understanding of the diversity of dinosaur species from this time.
"You don't usually find dinosaurs in the deposits at Shanklin as they were laid down in a marine habitat. You're much more likely to find fossil oysters or drift wood, so this is a rare find indeed."
It is likely that the Vectaerovenator lived in an area just north of where its remains were found, with the carcass having washed out into the shallow sea nearby.
The university findings are due to be published in the journal Papers in Palaeontology and co-authored by those who discovered the fossils