In 2019, during May to September a unique lichen occurring on soil was collected from four different localities in Deosai National Park, Gilgit-Baltistan, Pakistan. Phylogenetic analysis of the nrDNA ITS and LSU regions revealed that it clustered within the genus Placidium. Further morpho-anatomical and chemical analyses proved its novelty, and it is here described as a new species under the name P. deosaiense. The distinguishing characters of this novel taxon are brown to blackish 2–7 mm wide squamules, undulating in the center, epruinose at margins, epinecral layer up to 70 µm, cylindrical asci with ellipsoid to narrowly ellipsoid ascospores and clavate to bacilliform pycnidiospores.