Leptospermum hoipolloi de Lange & L.M.H. Schmid sp. nov. (Myrtaceae) is segregated from L. scoparium J.R. Forst. & G. Forst. (sensu lato). The new species is endemic to Te Ika a Maui / North Island and the northern part of Te Wai Pounamu / South Island of Aotearoa / New Zealand. The new species is morphologically distinguished from L. scoparium s. str. by the distinctly sericeous, narrower, and longer (up to 30 × 6 mm) lanceolate to elliptic lanceolate leaves, larger (up to 30 mm in diameter) flowers (these white, pink-tinged, pink-streaked or red); capsules up to 15.1 × 14.1 mm (unopened) and 16.6 × 18.0 mm (opened). Three formae are recognised, f. hoipolloi, for those plants with shorter, narrower, glabrescent leaves, mostly white (occasionally pink tinged or red) flowers, and smaller capsules; f. procumbens L.M.H. Schmid & de Lange f. nov., for those plants with a decumbent / prostrate growth habit, and silver-white to silvery grey hairy leaves, larger, white, pink-tinged or pink flowers, and larger capsules; and f. incanum (Cockayne) de Lange & L.M.H. Schmid f. comb. & stat. nov., for those plants previously recognised as L. scoparium var. incanum Cockayne, and which have an erect shrub growth habit, with longer, often broader leaves, whose young and maturing lamina is invested in silvery-grey or grey hairs; larger white, pink-tinged or streaked, pink or red flowers and capsules. Conservation assessments using the New Zealand Threat Classification System are proposed and a revised key to the Leptospermum of Aotearoa / New Zealand provided.