The new species Grundulus quitoensis is described from El Voladero Lake, El Angel Biological Reserve, Northern Ecuador. The new taxon can be distinguished from all congeners by the following characters, respectively: a low number of unbranched rays in the anal fin (three vs. four-five) and in pectoral fins (on vs. two - three), a higher number of dentary teeth (12-14 vs. 8-10), a second infraorbital about three times larger than the first (vs. about two times larger), a third infraorbital which is not in contact with the preopercle (vs. in contact with preopercle), the presence of four small fenestrae in the infero-lateral bone dentary (vs. one - two); and a premaxilla which presents a long lateral process (vs. short), a maxilla with two notches in the infero-lateral surface (vs. one notch in the infero-lateral surface).