A study including morphological characters and mitogenomics of South American and Australian fishes previously assigned to Percichthyidae was conducted. Results generated from these different data sets reveal major disagreements concerning the content and interpretation of the so-called percichthyids. A phylogenetic analysis based on 54 morphological characters suggests the existence of two major clades: (1) Percichthyidae, including the South American Percichthys and the Australian taxa Macquaria australasica, Macquaria (= Plectroplites), and Maccullochella; (2) Perciliidae with the South American genus Percilia at the base plus more advanced Australian genera Nannoperca, Nannatherina, Bostockia, and Gadopsis. In contrast, molecular and mitogenomic evidence suggests only one clade (Percichthyidae), with the exclusion of species of Macquaria (= Percalates). Additionally, the results reveal the existence of various taxonomic problems, such as the current interpretation of only one species of Percichthys in Argentina, an interpretation that is not supported by the present study; the existence of cryptic species of Percilia as well as of Gadopsis, Nannoperca, and Macquaria that will increase the diversity of the genera; and the need for an extensive revision of species previously assigned to Percalates versus Macquaria. Disagreements point to the need to develop further research on the so-called percichthyids and perciliids.