Araeococcus lageniformis is a new species described and illustrated here based on collections from the Atlantic Forest from the south of Bahia State, northeastern Brazil, and on morphological and anatomical characters. It is distinguished from A. nigropurpureus by the diameter of the tank, the morphology of the leaf, floral bracts, and sepals, by its sessile to nearly sessile flowers, its seed morphology, and by the presence of trichomes on both sides of the leaves. So far, the species is only known from Apuarema and Ibirapitanga municipalities. The type population was found in an unprotected area, fragmented by tracks and roads, where illegal logging takes place. Here we preliminarily assessed its conservation status as critically endangered.