Iochroma amicorum M. Cueva, S. D. Sm. & S. Leiva (Solanaceae), a new species from cloud forests of Central Peru, is described and illustrated. Phylogenetic analyses of DNA sequence data suggest that Iochroma amicorum is closely related to I. nitidum, I. umbellatum, I. grandiflorum and I. tingoanum, which collectively form the “U” clade of Iochrominae. Certain morphological characteristics of calyx and corolla as well as the type of habitat appear to be common in species of this clade. Iochroma amicorum is easily distinguished from other members of the “U” clade by its campanulate or funnel-shaped corolla with short and slightly reflexed lobes, the presence of an expanded stapet at the point of filament insertion with short lateral extensions united to the corolla, and its globose usually white fruits with tinges of purple at the base. Distribution, phenology and are discussed together with the position of the new species in Iochrominae. Iochroma amicorum is assessed as Endangered according to IUCN criteria B1ab (i, iii).