Myleus pachyodus, a new serrasalmid species, is described from the Rio Teles Pires and Rio Jamanxim, both tributaries of the Rio Tapajós in Mato Grosso and Pará states, Brazil. The new species differs from all congeners by having a remarkable ontogenetic thickening of the teeth shifting from slender incisiform in juveniles to thick bulky teeth at standard length ≥ 100 mm, whereas congeners present slender, antero‐posteriorly flat teeth throughout all life stages. The new species further differs from congeners by having 18–20 branched dorsal‐fin rays, by the lack of a diastema between contralateral outer series of premaxillary teeth and by the presence of 16–25 prepelvic spines, with the anteriormost spine never reaching the vertical through the pectoral‐fin origin.