Two new species of Euphorbiaceae (sensu stricto), Mallotus bicarpellatus (Acalyphoideae) and Croton nepalensis (Crotonoideae), are described from Nepal. Mallotus bicarpellatus is closely related to M. philippensis but differs in having 1 or 2 pairs of leaf glands distinctly separated from the petiole attachment, pistillate flowers with staminodes and longer pedicels, and fewer locules and stigmas. Croton nepalensis differs from C. tiglium in having leaves with truncate, subcordate or rounded base, smaller, broadly ovoid capsules, and smaller seeds. A table is provided showing how Croton nepalensis differs from other closely related species. Croton himalaicus is here regarded as a synonym of C. tiglium, though it has been treated variously as a distinct species or a synonym of C. tiglium or C. birmanicus by recent authors. Distribution maps and graphs of altitudinal distribution are given for the new species.