A new Perenniporia species, P. cinereofusca, is described based on morphological and molecular characters. It is characterized by an annual growth habit, resupinate basidiocarps with gray to pale brown pore surface, tissues becoming black in 5% potassium hydroxide (KOH), a dimitic hyphal system with weakly dextrinoid skeletal hyphae and hyaline to pale yellowish, distinctly thick-walled and indextrinoid basidiospores (6.5–7.7 × 5.3–6.3 μm), and presence of dendrohyphidia and large rhomboid crystals. Both morphological and molecular evidence confirmed the placement of the new species in Perenniporia sensu stricto and showed its relationships with similar species in the genus.