Myxobolus metynnis n. sp. (Phylum Myxozoa) is described in the connective subcutaneous tissues of the orbicular region of the fish, Metynnis argenteus (Characidae), collected in the lower Amazon River, near the city of Peixe Boi, Pará State, Brazil. Polysporic, histozoic plasmodia were delimited by a double membrane with numerous microvilli on the peripheral cytoplasm. Several life-cycle stages, including mature spores, were observed. An envelope formed by numerous fine and anastomosed microfibrils was observed at the spore surface. The spore body presented an ellipsoidal shape and was about 13.1 μm long, 7.8 μm wide, and 3.9 μm thick. Elongated-pyriform polar capsules were of equal size, measuring 5.2 μm in length, 3.2 μm in width, and possessing a polar filament with 8–9 turns around the longitudinal axis. The binucleated sporoplasm contained a vacuole and numerous sporoplasmosomes. These were circular in cross-section, showing an adherent eccentric, dense structure, with a half-crescent section. Based on the morphological differences and host specificity, we propose that the parasite is a new species named Myxobolus metynnis n. sp.