A total of 140 species of Hypotrachyna (Parmeliaceae, Lichenized Fungi) are recognized from the Neotropics. This is well over 50% of the species known worldwide in this primarily tropical genus and includes 85 species thus far known only from the Neotropics. Keys are provided plus synonymy, descriptions, secondary chemistry, distribution maps, habitats and a selection of herbarium voucher specimens for each species.