Two new species of Mahonia (Berberidaceae), M. dulongensis H. Li and M. lushuiensis T.S. Ying & H. Li, are described and illustrated from Yunnan, China. Mahonia dulongensis is morphologically similar to M. taronensis, but it differs in having 16–18 teeth on each leaflet margin side, adaxially with conspicuous lateral veins, and inflorescence of 11 fascicled racemes, 5–13 cm long, sometimes with branches. Mahonia lushuiensis is similar to M. polyodonta, but can be easily distinguished by its having 3–4 pairs of leaflets, adaxially with lateral veins flat or inconspicuous, and bracts of inflorescence ovate, 1 × 0.8 cm.