The deep-sea ceratioid anglerfish genus Phyllorhinichthys is revised on the basis of all known material. Two species are recognized: the type species Phyllorhinichthys micractis, now represented by nine specimens collected from all three major oceans of the world; and a new species described here on the basis of five specimens, all from the Atlantic Ocean. The new species differs from P. micractis in having a longer illicium, only a single anterior escal appendage, and a much longer distal escal appendage. Diagnoses and descriptions are given for all taxa, known distributions are plotted, and a key to the species is provided.