Neofavolus teixeirae sp. nov. (Basidiomycota) is described and illustrated based on specimens collected from a reforestation area in southeastern Brazil. This new species is characterized by a lateral stipe up to 1.3 cm long, lacerate and angular pores measuring 0.5-2 (-2.5) per mm, and cylindrical to subcylindrical basidiospores. Phylogenetic analyses of the ITS and LSU regions confirmed its phylogenetic placement and taxonomic identity. A key to Neofavolus species is presented.