The heavy quarkonium spectrum of Two Color QCD (QC 2D) at non-zero quark chemical potential μ and temperature T with μ/T≫1 has been calculated in both S- and P-wave channels using a lattice non-relativistic formulation of QC 2D. As μ is varied, the quarkonium spectra reveal three separate regions, corroborating previous findings that there are three distinct physical regimes of QC 2D at low temperature and high baryon density: hadronic matter, quark/quarkyonic matter, and deconfined matter. The results are interpreted in terms of the formation of heavy-light Qq states in the two-color baryonic medium. © 2012 Elsevier B.V.