In this work fresh material and herbarium specimens of Lentinus and Panus from the semi-arid region of Brazil were analyzed. A new species, Panus parvus, is described as one of the smallest species among the lentinoid species. Lentinus bertieri, L. swartzii, Panus tephroleucus, and P. velutinus are recorded for the first time for the Brazilian semi-arid region. Additional, comments and a key to the species of Lentinus and Panus from this region are provided. Panus caespiticola, Panus hirtiformis, and Panus neostrigosus are new combinations proposed here for a clear understanding in the discussion of Panus parvus.