Stipa khovdensis L.Q. Zhao sp. nova (Poaceae), is described and illustrated from Mongolia. It is morphologically similar to S. argillosa of Stipa section Barbatae, but differs from it by its longer glumes (28–35 mm vs. 13–16 mm in S. argillosa) with the apex scarious and acuminate into a fragile filiform extension, longer anthecium (11–12 mm vs. 7–8 mm), and longer awn (14–16.5 cm vs. 8.0–9.5 cm). A checklist of and a key to the genus Stipa s. stricto in Mongolia are provided.