A thorough comparative study shows that ”Hetaerina capitalis” actually consists of two good species, viz. H. capitalis Selys (designated lectotype 9: Bogota; Coll. Selys, Brussels) and H. smaragdalis sp. n. (holotype $■. road Manrique-La Sierra, 425 m, Cojedes, Venezuela, 28-1-1983; Facultad de Agronomia, Maracay). Males and females of both species, and the larva of H. capitalis are described and figured. The most important characters for separating the adults are the shape of the superior anal appendages in the male and the colour of the thoracic stripes in the female. Several additional features, e.g. wing venation, length of the pterostigma, body size, colour of upper front and clypeus, and habitat preferences may also be useful to separate these two sibling species. A complete bibliography, distributional map, and some observations on the biology of H. capitalis are also provided.