A new species, Eriotheca estevesiae, from the Cerrado vegetation of Brazil, is described and illustrated. Phylogenetic analyses based on internal transcriber spacer (ITS) sequence data support the new species as sister to E. pubescens, a widespread species in central Brazil. Both species have stellate trichomes on the leaflets, a character not found in other species of Eriotheca. Eriotheca estevesiae differs from E. pubescens by having oblong to narrowly-elliptic (vs. mostly obovate) leaflets that are chartaceous (vs. coriaceous) and covered with ferruginous (vs. golden) trichomes; pedicels and calyces that lack stellate trichomes; and smaller flowers and capsules. Analysis of scanning electron microscopy (SEM) micrographs of the leaf epidermis revealed that E. estevesiae also differs from E. pubescens by the presence of peltate scales with an irregularly deep-lobed (vs. regular) outline and by stomatal density and mean stomatal length. Notes on distribution, phenology, and conservation status of the new species as well as a discussion of its morphological relationship to other species of Eriotheca from Cerrado are provided.