The new anchovy Stolephorus meteorum, formerly confused with Stolephorus indicus, is described on the basis of 19 specimens collected from the southern Red Sea. Four other species, previously confused with or placed in the synonymy of S. indicus, have been either redescribed (Stolephorus commersonnii), described as new (Stolephorus belaerius), or resurrected from its synonymy (Stolephorus balinensis and Stolephorus scitulus). The new species shares with the latter four species, plus S. indicus, a relatively short maxilla and pelvic fins, and six or fewer prepelvic scutes but differs from them in the combination of some other characters, including intermediate numbers of gill rakers (total gill rakers on first gill arch 40–43, modally 41), 41 vertebrae, a large head and narrower interorbital area, and longer pelvic fins. A genetic analysis of the mitochondrial cytochrome oxidase I gene (COI) of S. meteorum, new species, S. balinensis, S. belaerius, and S. indicus revealed each species to be genetically divergent from the others by 2.5–3.6% uncorrected distance.