Forstercooperiines are a group of large, primitive rhinocerotoids that are commonly regarded as ancestral to later giant rhinos. However, the type genus of forstercooperiines, the Middle Eocene Forstercooperia, is one of the most poorly known rhinocerotoids, and is represented only by fragmentary material. Here we name a new species, Forstercooperia ulanshirehensis, based on five specimens, including a well-preserved cranium and a pair of complete mandibles. This new material was collected from the Ulan Shireh Formation in the western part of the Erlian Basin and the Irdin Manha Formation in the eastern part of the Erlian Basin, northern China. These specimens provide the most complete craniodental remains of Forstercooperia sensu stricto (excluding Pappaceras), and on this basis the species-level taxonomy of forstercooperiines is thoroughly revised and six species of two genera are considered as valid. Specimens previously assigned to “Forstercooperia minuta” are reassigned to different species based on the revised diagnoses. All equivocal specimens that were thought to have an affinity with Forstercooperiinae are briefly discussed. Based on a new character matrix, phylogenetic analyses fully resolve the relationships of early rhinocerotoids, including the recovery of Forstercooperia and Pappaceras as sister groups. The occurrence of Forstercooperia ulanshirehensis in the eastern and western Erlian Basin is indicative of age correlation between the lower part of the Ulan Shireh Formation and the Irdin Manha Formation.