Based on two males from Ecuador (Sucumbos Province), Paracordulia calcarulata sp. nov. is the second described species of the genus. This new species is compared to P. sericea (Selys, 1871). The different shape of the anal appendages easily allows separation of the two. Generic diagnosis based on adults and larvae is amended. Paracordulia Martin, 1907 is a poorly known genus of the Amazonian biome, and its apparent rarity or absence of records is probably due to its secretive habits; considering the different forms of known females, its specific diversity has likely been significantly underestimated. Some structures of the vesica spermalis are briefly discussed.