A new species, Lycoris hunanensis M. H. Quan, L. J. Ou & C. W. She (Amaryllidaceae), is described from Yuanling County in Hunan Province, China. Diagnostic morphological characters that distinguish it from the similar L. straminea Lindl. are presented. The clearest differences are that the perianth of L. hunanensis is pink in bud, lightly yellowish pink in early anthesis, and gradually fading to white later in development, with light red spots apically, while that of L. straminea is always ocher-yellow. Lycoris hunanensis has longer scapes (50–60 cm vs. ca. 35 cm long in L. straminea). The leaf apex of L. hunanensis is acuminate, which is quite different from the obtuse apex of L. straminea, and the leaf blade midveins are noticeably paler in L. straminea. The new species is assessed as Endangered (EN), according to IUCN criteria.