Gynoxys (Asteraceae) includes a great diversity of species inhabiting the South American Andes, from Venezuela to northern Argentina. This genus currently comprises 130 species, from which 65 have been recorded in Peru. In this study, we describe a new species, G. yasgolgensis from northern Peru. This species was found in the Yasgolga mountain range at 3,300–3,500 meters above sea level, in the jalcas and altimontane (Pluvial) yunga forest of the Yasgolca-Santa Lucía Private Conservation Area from the Montevideo district, at the Amazonas department. It seems to have a restricted distribution nearby this area. Gynoxys yasgolgensis is a shrub or tree, differentiated from other related species, such as G. oleifolia, G. revolutifolia and G. ferreyrae, by the presence of coriaceous leaves with revolute margins and the indumentum composed of simple trichomes. In addition, it has a densely corymbose synflorescence and capitula with 6–8 ray florets and 21 disc florets. Data concerning its distribution, ecology and conservation status are provided.