Tigridia arequipensis (Iridaceae: Tigridieae) is a new species found in the province of Arequipa (department of Arequipa), South Peru. It is unique by its white to pale white (or pale lilac) flowers, outer tepals with purplish maroon and dark yellow spots and stripes, and inner tepals with pale purplish and bluish spots and stripes. Tigridia arequipensis is morphologically similar to T. raimondii and T. philippiana, it differs by having longer basal leaves, narrower and larger bracts, and outer tepals ovate and longer fruits.