We describe a new species of Liolaemus from the alticolor group that was previously confused with L. alticolor. Populations of this new taxon are distributed in the area of Cuzco and Sicuani, in southeastern Perú (Peruvian province of Cuzco). This new species is disjunct with respect to other members of the alticolor group. We analyzed 82 characters of external morphology, including external squamation, neck folds, precloacal pores, and dorsal and ventral patterns. These characters were compared between the new taxon and 17 morphologically similar species belonging to the more-inclusive chiliensis group. The new species is characterized by a unique combination of throat color pattern, smooth dorsal head scales, and well developed neck folds. This evidence, together with its geographic isolation, supports this taxon as a new species of Liolaemus.