Three sorediate and four primarily fertile species of the lichen genus Hypogymnia are accepted for Chile in the present study, and only two of these correspond to species listed in current checklists. Hypogymnia antarctica, H. lugubris and H. subphysodes are considered to be common; the former has previously been poorly understood. Hypogymnia pulverata and H. bitteri are reported here as new to Chile, the latter also as new to austral areas. The former is not convincingly well separated from H. subphysodes. Hypogymnia enteromorphoides and H. solidepedicellata are also accepted here, based on literature reports, whereas six species reported rather recently from southern South America are not accepted here for this area. Sorediate species are much more widely distributed than primarily fertile ones, not only in the present study area, but also on a global scale. Vittatolic, 2'-O-methylphysodic, and 3-hydroxyphysodic acids were found to be reliable differential compounds between some of the species studied. The superficially similar genera Hypogymnia and Menegazzia are of strong biogeographical interest, as they show parallel distribution patterns, although they have probably originated in different hemispheres.