In the present study, a new stag beetle, namely Prosopocoilus wangae Qi, Bian & Xin, sp. nov., from Vietnam is described and illustrated. This new species has long been misidentified as the Vietnamese population of P. mysticus mysticus Parry, 1870, but it can be clearly distinguished from the latter by its external details and genital characters. Moreover, an updated checklist of Vietnamese taxa of Prosopocoilus Hope, 1845 is provided.