Lycodes diapterus, the type species of Furcimanus, has been divided into as many as three subspecies (L. diapterus diapterus, L. d. beringi, and L. d. nakamurae). Although L. d. nakamurae has been broadly recognized as a distinct species by recent authors, the status of L. d. beringi is unresolved, and several authors have noted the need for a comprehensive morphological study of L. diapterus. Based on an examination of nearly 500 specimens collected from Kamchatka to California, we herein recognize Lycodes beringi as a valid species distinguished from L. diapterus by meristics and squamation. Lycodes beringi is distributed from southeastern Kamchatka through the Bering Sea, Commander and Aleutian Islands, Gulf of Alaska, and south along the North American west coast to Puget Sound, while L. diapterus ranges from the Pacific coast of Vancouver Island south along the U.S. west coast to southern California. In this report we document the morphological variation present in L. diapterus and L. beringi and designate a lectotype for L. beringi. We also provide diagnoses, descriptions, and distribution information for both forms, and compare them with closely related congeners, providing comments on the subgenus Furcimanus.