A new species of Porphyra is described from the south western Cape, South Africa. The gametophyte of Porphyra aeodis sp. nov. grows epiphytically on Aeodes orbitosa (Suhr) Schmitz, and has a seasonal life history that matches that of its host. Although P. aeodis has been confused with P. capensis Kützing in the past, P. aeodis is more similar to the sympatric but epilithic P. saldanhae Stegenga, Bolton et Anderson. There is considerable morphological overlap between P. aeodis and P. saldanhae, although they may be distinguished using a combination of morphological and ecological characters. The taxonomic separation of P. aeodis and P. saldanhae was confirmed using isozyme electrophoresis.