Russula iqbalii sp. nov. was collected from the District Swat, Pakistan. This species was characterized by its purplish brown pileus having smooth to sulcate‐striate margins, stipe smooth to fibrillose and smaller basidiospores with prominent warts, that are isolated to fused in long chains. Comparative morphology and molecular phylogeny based on nrDNA ‐ITS sequences revealed that it is distinct from previously known taxa in the genus and represents a new species in Russula subsection Maculatinae, section Russula, within the subgenus Russula.