We assess variation of male secondary sexual structures, genitalia, and wing patterns in Theritas lisus (Stoll) and relatives to clarify the species level taxonomy, which is needed for a phylogenetic analysis. Variation in the male ventral hindwing scent pouch was especially useful taxonomically. This pouch may be absent, present without androconia, or present with androconia in T. lisus. Despite this variation, pouch size (when present) distinguishes T. lisus from its closest relatives. As an overview, we propose distinguishing traits for a phenetic T. lisus species group, re-examine and confirm the proposed synonymies of T. hisbon and T. orsina with T. lisus and of T. photeinos with T. viresco, confirm the association of the sexes of T. lisus and T. viresco, and describe Theritas silma Martins, Faynel, & Robbins, new species, from French Guiana. CO1 mitochondrial sequences are consistent with these taxonomic results, but the recently introduced barcode index numbers (BINs) recognized too many species. A nomenclatural list summarizes the taxonomic actions in the T. lisus species group.