The monotypic genus Neoaquastroma (Parabambusicolaceae, Pleosporales) was introduced for a microfungus isolated from a collection of dried stems of a dicotyledonous plant in Thailand. In this paper, we introduce two novel species, N. bauhiniae and N. krabiense, in this genus. Their asexual morphs comprise conidiomata with aseptate and hyaline conidia. Neoaquastroma bauhiniae has ascomata, asci and ascospores that are smaller than those of N. krabiense. Descriptions and illustrations of N. bauhiniae and N. krabiense are provided and the two species compared with the type species of the genus, N. guttulatum. Evidence for the introduction of the new taxa is also provided from phylogenetic analysis of a combined dataset of partial LSU, SSU, ITS and tef1 sequence data. The phylogenetic analysis revealed a distinct lineage for N. bauhiniae and N. krabiense within the family Parabambusicolaceae.