<p><i>Agarista</i> is a genus of subshrubs, shrubs and trees in the Ericaceae, closely associated with tropical, mountainous and rocky outcrop environments in Africa and the Americas. The genus, not including the new species, comprises 35 species and seven varieties, with 34 species occurring throughout the Neotropics. So far, only the Andean <i>A. boliviensis</i> has been recorded in Bolivia. Here, we update the number of <i>Agarista</i> species in the country to two, with the description of <i>A. lanceolata</i>. The new species is only known from the rock outcrop vegetation of Chiquitos province, in the Department of Santa Cruz. A diagnosis, detailed description and illustration are provided for the new species. We also present a key for identification of <i>Agarista</i> in Bolivia, a map with the geographic distribution of the two species in the country, taxonomic comments, and photographic plates.</p>