This paper describes and illustrates Heterop- terys serrata, a new species endemic to semideciduous forests associated with inselbergs in the state of Esp ́ırito Santo, Brazil. Morphological and wood anatomical traits of the new species are compared to those of other species of the Heteropterys Metallophyllis informal group. Based on wood anatomy, H. serrata and H. nitida (the most mor- phologically similar species) have different axial par- enchyma, which is scarce paratracheal in H. nitida (and some other species of the Metallophyllis informal group) and aliform confluent in H. serrata. The most notable morphological and anatomical characters that dis- tinguish the new species are the young hexagonal stems, the unusual widely serrate leaf margins and the aliform confluent axial parenchyma in the wood.