The deep channels of large rivers throughout the humid Neotropics are occupied by diverse and abundant assemblages of electric knifefishes. Historically this habitat has been poorly sampled, but extensive benthic trawling efforts in the Brazilian Amazon in the 1990s produced large numbers of electric fishes especially in the family Apteronotidae. A large number of these specimens, initially identified as Porotergus, have been found to belong within Compsaraia, a genus with two species described from the Orinoco and western Amazon. From this material we describe a new species, from the Amazon River in Brazil, and provide a new diagnosis for the genus. This species is readily distinguished from congeners by a short, rounded snout and small, subterminal mouth with reduced dentition. This species inhabits large rivers in the Eastern and Central Amazon between Ilha Grande de Gurupá and the mouth of the Rio Içá. This description brings the total number of valid apteronotid species to 95.