A new lichen species, Waynea giraltiae van den Boom, is described from southern Portugal and Spain. It is characterized by a very fine tomentum on the squamulose thallus, fusiform, 3-septate ascospores, and strongly curved filiform conidia. It is the first species of the genus containing argopsin. The new species is compared with related Waynea species. Waynea cretica is recorded as new to the Iberian Peninsula.