Eugerdella serrata sp. nov. is the second species of this genus from the Southern Ocean besides E. falklandica NORDENSTAM, 1933. The new species is most similar to E. pugilator HESSLER, 1970. Both species share synapomorphies that distinguish them from all other species of the genus. Eugerdella serrata sp. nov. can be distinguished from E. pugilator by the smooth lateral margins of pereonites 5–7, the characters of pereopod I and a lacinia mobilis with three teeth. The relationships and systematic positions of the two species are discussed concerning the morphological variability within the genus Eugerdella HESSLER, 1970.