We describe two partial postcranial skeletons belonging to the enigmatic theropod dinosaur clade Megaraptoridae from the Upper Cretaceous (lower Cenomanian–upper Turonian) Bajo Barreal Formation of southern Chubut Province, central Patagonia, Argentina. The specimens are assigned to Megaraptoridae due to their possession of multiple anatomical features that are considered synapomorphies of that predatory dinosaur group, such as a greatly enlarged, laterally compressed ungual of manual digit I that possesses asymmetrical lateral and medial vascular grooves. Overlapping elements of the two skeletons are nearly identical in morphology, suggesting that they probably represent the same taxon, a large-bodied theropod that was previously unknown from the early Late Cretaceous of southern South America. The Bajo Barreal specimens constitute the most ancient unquestionable records of Megaraptoridae from that continent, and exhibit particularly strong osteological resemblances to penecontemporaneous megaraptorids from the Winton Formation of Australia. Phylogenetic analysis recovers the unnamed Bajo Barreal taxon as the earliest-diverging South American megaraptorid and the oldest-known representative of this clade that likely attained a body length of at least seven meters and a mass of at least one metric ton. Overall, the balance of the evidence suggests that megaraptorids originated in eastern Gondwana (Australia) during the Early Cretaceous, then subsequently dispersed to western Gondwana (South America) during the mid-Cretaceous, where they attained substantially larger body sizes, ultimately coming to occupy the apex predator niches in their respective habitats.