Altogether 274 taxa of lichens and lichenicolous fungi are reported from PANAMA. of which 185 are new records for the country. Beside that, ten species are described as new to science, including seven lichenized fungi (Bacidina convexa, Cliostomum subcorrugatum, Halecania panamensis, Micarea granuloblastidiata, Myriotrema hypoconsticticum, Ocellularia etayoi and Toninia submesoidea) and three lichenicolous fungi (Arthonia amandineicola, Didymocyrtis graphidacearum and Niesslia coenogonii). Notes on morphology, chemistry and ecology are given.