We describe a new species of rainfrog of the Eleutherodactylus fitzingeri species group from central Panama. This species is most similar to members of the E. melanostictus subgroup and can be distinguished from other members of the E. fitzingeri group from Lower Central America by a combination of characters, including a large supraocular tubercle, barred thigh pattern, a granulate venter, marked sexual dimorphism in the tympanic membrane, and basal toe webbing. We analyzed a data matrix of 24 allozyme, morphological, and karyological characters, following the phylogenetic analysis of Miyamoto (1986), and included four additional characters. The 12 species of the E. fitzingeri group are included, in addition to the new species. The relative phylogenetic position of two species, E. emcelae and E. phasma, are proposed for the first time. The new species is hypothesized to be a member of the E. melanostictus subgroup, which contains the predominantly montane species E. melanostictus, E. rayo, E. emcelae, E. monnichorum, and E. cuaquero.