Two new wood-inhabiting species of fungi, Lyomyces fissuratus C.L. Zhao and L. fumosus C.L. Zhao (Schizoporaceae, Hymenochaetales) are proposed based on a combination of morphological and molecular evidence. Lyomyces fissuratus has resupinate basidiomes with a tuberculate, cracking hymenial surface and slightly thick-walled basidiospores, and L. fumosus has farinaceous to pruinose basidiomes with a smoky grey hymenial surface and slightly thick-walled basidiospores. ITS sequences and LSU gene regions were generated, and phylogenetic analyses were performed with maximum likelihood, maximum parsimony and Bayesian inference methods. According to a phylogenetic reconstruction of Schizoporaceae based on a concatenated ITS + LSU data set, the two new species were nested in Lyomyces. In a second phylogenetic analysis of the genus Lyomyces, multiple isolates of L. fissuratus formed a monophyletic lineage in a clade comprising L. mascarensis, L. cremeus, L. microfasciculatus and L. wuliangshanensis. Lyomyces fumosus was retrieved as a sister species of L. fimbriatus.