Here we describe a new heterophyid species, Heterophyes yacyretana n. sp., and resolve its life cycle experimentally. We found the prosobranch snail Aylacostoma chloroticum in Candelaria, Province of Misiones, Argentina (a sector of the High Paraná River affected by the Yacyretá Dam), naturally infected with opisthorchioid cercariae. These cercariae lacked pigmented eyespots as well as body pigment and possessed 7 pairs of penetration glands arranged in 2 lateral bands, together with 18 pairs of flame cells and a V-shaped excretory vesicle. We exposed specimens of 21 fish species to emerging cercariae and obtained metacercariae from the muscles of the caudal peduncle of 3 species of siluriform fish, and adults from chicks infected with experimentally obtained metacercariae from the albino variety of the bronce corydoras, Corydoras aeneus. The new species differs from other species in the genus by the number of sclerites on the genital sac, the distribution of the vitelline follicles, and the combination of the size relationship of the suckers and the genital sac with respect to the posterior extent of intestinal ceca. Heterophyes yacyretana is the first species of the genus reported from the Americas.