Stelis peruviana from the cloud forest of Yanatile, Cusco, Peru is described and illustrated. This new species is most similar to Stelis spathuliformis, from which it differs by its yellow flowers, shorter lanceolate sepals, and wider, shorter, obovate lip with irregular margins. Information on its habitat, phenology, and conservation status, as well as a key to the Peruvian species of Stelis previously classified in Pleurothallis subgen. Acuminatia sect. Acuminatae are given.