Two new species of Mycobilimbia are described from Spain. Mycobilimbia olwacea has a minutely squamulose and olivaceous thalli and dark reddish brown apothecia, colourless inside; it has been found at middle to high altitudes (from 900 to 1750 m), growing on humid tree bases of Pinus nigra and lignum of Quercus pyrenaica. Mycobilimbia parvilobulosa is closely related to M. berengeriana, but differs markedly by its squamulose thalli, with crenate to subdigitiform margins, dark reddish brown excipulum and colourless epithecium. It grows on moss-covered old trunks of fagaceous trees. The new taxa are compared with M. berengeriana, M. hypnorum and M. sanguineoatra and their main distinguishing characters are tabulated.