A new distylous Waltheria species from Bahia, Brazil, is described and illustrated. Waltheria saundersiae is endemic to the campos rupestres from Bahia and is a shrub with erect to flexuous branches. It can be confused morphologically with Waltheria cinerescens, W. maritima, and W. selloana, however, it is distinguished mainly by the bark ornamentation, leaf arrangement, leaf blade margin, inflorescence position, stylar polymorphism type, calyx size, and staminal tube indument.