Eriotheca bracteolata (Malvaceae, Bombacoideae), a new species from Espírito Santo State, Brazil, is here described and illustrated. The new species is restricted to the mountainous region around Santa Teresa city, where it occurs on slopes and in riparian areas in the Atlantic Forest. Eriotheca bracteolata includes arboreal individuals up to 12 m (rarely 16 m) tall and has widely-obovate and strongly coriaceous leaflets, a calyx with non-floccose, adpressed, brown scales and three persistent bracteoles at the base, and oblong flower buds. Morphological characters are sufficient to recognize E. bracteolata as a new species. A key to E. bracteolata and similar species in Espírito Santo State is provided.