Subtribe Chusqueinae was previously composed of the genera Neurolepis and Chusquea. Following molecular-based phylogenetic studies, all species of Neurolepis were transferred to Chusquea and placed in two new subgenera: Chusquea subg. Magnifoliae and Chusquea subg. Platonia. Complete keys for the identification of taxa within C. subg. Magnifoliae and C. subg. Platonia are lacking. The present paper provides five new reports and a taxonomic revision of Chusquea subg. Magnifoliae and C. subg. Platonia in Peru involving 13 taxa. Vegetative and reproductive morphological diagnostic characters were analyzed. Complete illustrations of C. aristata, C. fimbriligulata subsp. peruviana, and C. spectabilis are provided. Chusquea elata, C. fimbriligulata subsp. fimbriligulata, C. mollis, C. nana, and C. spectabilis constitute new reports for Peru. Keys for the identification of the species of Chusquea subg. Magnifoliae and C. subg. Platonia occurring in Peru were prepared based on vegetative and reproductive characters and are here presented for the first time.