Specimens of Echinobothrium diamanti n. sp. (Cestoda: Diphyllidea) were recovered from the spiral intestine of Iago omanensis and Mustelus mosis (Carcharhiniformes: Triakidae), in the Gulf of Aqaba, Red Sea. The new species can be distinguished from all other species in Echinobothrium by the presence of a conspicuous vaginal sphincter. Echinobothrium diamanti possesses a corona of spines between the apical armature and the bothria, as in Echinobothrium notoguidoi, Echinobothrium musteli, and Echinobothrium scoliodoni, also parasites of sharks. However, E. diamanti possesses more testes per proglottid than E. notoguidoi and E. scoliodoni, and it is larger and has more spines per column on the cephalic peduncle than E. musteli and E. notoguidoi, and it also has circum-medullary vitelline follicles rather than distributed in lateral columns. Echinobothrium diamanti is the first species of diphyllidean reported from the triakid genus Iago.