The genus Dasyprocta Illiger, 1811 includes at least 13 species of medium-sized caviomorph rodents, widely distributed from Mexico to northern Argentina. Despite being abundant, largely diurnal, and easily identifiable by their external traits, the taxonomy of this genus remains poorly understood. In this work, we reviewed the taxonomy of Dasyprocta along the Andes and adjoining lowland areas of the western Neotropics, including samples from Mexico to northern Argentina, with emphasis on two species largely confounded—sometimes considered as synonyms—during the last century: D. punctata Gray, 1842 and D. variegata Tschudi, 1845. In the construction of our taxonomic hypotheses, we use a purely morphological approach, emphasizing qualitative and quantitative cranial features and external traits (color patterns). The results of multivariate statistical analysis and differences in color patterns support the species-level validity of D. punctata and D. variegata. Within this latter nominal form, we also include those populations from northern Argentina and eastern Bolivia that recently were referred to D. azarae. Based on our results, D. punctata (including bellula, callida, candelensis, chiapensis, chocoensis, colombiana, dariensis, isthmica, nuchalis, richmondi, underwoodi, yucatanica, and zuliae) extends from southern Mexico to Colombia, Ecuador, northernmost Peru, and western Venezuela, while D. variegata (including azarae, boliviae, and yungarum) is distributed from south–central Peru and southwestern Brazil to Bolivia and northwestern Argentina.