A new species of Polygonatum Mill., P. bifolium Floden & K. Armstr. (Asparagaceae), is described and illustrated from northern Myanmar, Kachin State, Putao District. Polygonatum bifolium is highly distinctive in that the mature plant consists of two opposite leaves with a single flower borne between these. It occurs as an epiphyte at mid-elevations from ca. 2000 to 2500 m. It is the smallest species of Polygonatum thus far discovered. A conservation assessment is provided based on the available data and several collections with a proposed IUCN status of Vulnerable [VU D2]. We provide a preliminary list of the described species that are known to be present in Myanmar and taxonomic notes on each. Lastly, we provide a lectotypification for P. nervulosum Baker, which should be expected in Myanmar.