Hypancistrus inspector, a new species of suckermouth armored catfish from Venezuela, is described and compared to the only other species of Hypancistrus, Hypancistrus zebra. The two species differ mainly in coloration with H. inspector dark brown to black with pale yellow to white spots and H. zebra with a boldly contrasting pattern of black and white stripes. Hypancistrus is diagnosed based on the unique presence of a sharply angled adductor palatini crest and two reversals: wide anterior separation of the metapterygoid and lateral ethmoid and the loss of the lateral wall of the metapterygoid channel. Specimens of H. inspector were found to have many seeds in the intestine suggesting that the species is at least partially granivorous.