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Bulbophyllum chrysolabium, a new species belonging to section Racemosae from Yunnan, China is described and illustrated. The species is related to B. orientale and B. morphologorum, but differs by having the following set of characters: obliquely broadly-based triangular petals with a long filiform apex; lip densely glandular papillose and conspicuously ciliolate along margins; lip auricles well developed, narrowly falcate, tapering to a long sharp point at the apex; stelidia subulate and twisted inwards, slightly exceeding operculum. The conservation status of B. chrysolabium is assessed and taxonomic notes are provided.