The New World species of the genus Paralimna Loew are revised. Fifteen new species are described and four new synonyms are proposed (Paralimna cilifera Hendel = Paralimna sana Cresson, Paralimna sticta Hendel = Paralimna taurus Cresson, and Paralimna bistriata Hendel = Paralimna molossus Schiner, P. multipunctata Williston = Paralimna thomae (Wiedemann)). A key to the 34 known, New World species of the subgenera Paralimna is provided, as is a key to the three New World species of the subgenus Phaiosterna Cresson. Diagnoses, detailed distributional data for the species of the genus, notes on the biology, and illustrations (photographs and drawings) are provided to assist species identification. A cladistic analysis was performed to examine the monophyly of the known species groups of Paralimna. The ingroup includes a total of 64 exemplar species. Outgroup sampling includes the following exemplar genera: Afrolimna Cogan Oedenops Becker, and Papuama Mathis and Zatwarnicki. The analyses of the 36 included characters recovered a monophyletic subgenus Phaiosterna Cresson and a paraphyletic subgenus Paralimna if the limbata species group is included. Except for the limbata species group, the remaining known species groups of Paralimna were not sustained. — Smithsonian Contributions to Zoology, number 643, x + 148 pages, 215 figures, 31 maps, 1 table, published 1 June 2015.