Abstract: Based on a large number of wood-inhabiting fungi specimens collected during the investigation of large-scale fungi resources in Yunnan Province, through morphological feature identification and molecular systematics research, a new species of wood-inhabiting fungus, Efibula fissurata, was described. It is characterized by having cream to buff basidiomata, a monomitic hyphal system with generative hyphae bearing simple septa, and ellipsoid basidiospores measuring 4.0–6.5 × 3.5–5.0 µm. Sequences of ITS + nrLSU data of the studied samples were generated and phylogenetic analyses were performed with the maximum likelihood, maximum parsimony, and Bayesian inference methods. The phylogenetic tree shows that E. fissurata forms a sister with E. clarkii, morphologically, E. clarkii differs in possessing pale brown to brownish-yellow basidiocarps and narrower basidiospores (6.0–7.0 × 3.0–3.5 µm vs. 4.0–6.5 × 3.5–5.0 µm). This study has enriched the fungal species diversity in Yunnan Province of China, providing a scientific basis for the protection and sustainable utilization of fungal resources.