The present paper describes and illustrates two new species of Chusquea subg. Magnifoliae in Peru, C. longipedicellata and C. rugoloana. Keys for the identification of species, based on vegetative and reproductive characters, as well as a comparative table with morphological diagnostic features are included. Additional micromorphological characters of the spikelets and leaves are considered, and a complete description of foliar anatomy is presented. Also, some remarks about the characteristics of the phytogeographical regions and the ecology of these new species are provided.