We describe a new species of anuran from the Cordillera Central, El Copé, Coclé Province, Panama. The species is assigned to the Craugastor rugulosus species series of Neotropical stream-dwelling frogs, which contains 33 species and which ranges from Mexico to central Panama. The new species differs from all other members of the C. rugulosus species series by the combination of the absence of vocal slits and nuptial pads, and the presence of strong toe webbing and a large flap-like tarsal fold. This species experienced population declines in central Panama in 2004 and no remaining populations are known.