Munduruku gen. nov. is proposed for the type species Munduruku bicoloratum sp. nov., from Juruti and Santarém, Pará, Brazil. The main diagnostic character of Munduruku gen. nov. is the presence of a subapical, lanceolate keel on the male palpal bulb, which is unique among the basal taxa of Theraphosinae with type III-IV urticating setae. The female spermathecae consist of two spheroid receptacles with funnel-shaped necks, each of which bears a sclerotized area. In both sexes, the abdomen is remarkably patterned, an uncommon feature in adults of New World theraphosids. Both the bulbus lanceolate keel and the abdominal color pattern are hypothesized as synapomorphies of the genus.