Tulostoma subreticulatum is a new species to science. This species is characterized by its small to medium-size basidiomes, tubular stoma, verrucose exoperidium with flat and angulose verrucae up to 0.8 mm, reddish-brown endoperidium, and subreticulated 3.8–5 μm basidiospores. This new species was collected in the tropical forest of Tabasco, Mexico. Description of the specimens, macroscopic images of the basidiomes, light microscopy, and scanning electron micrographs are provided. DNA extraction was carried out following a CTAB protocol. GeneBank and newly generated ITS, LSU, and Tef1α sequences were used in Maximum Likelihood and Bayesian Inference analyses. Phylogenetically, T. subreticulatum is related to T. deltaconcavum and forms a sister group from Clade 11 of the monophyletic genus Tulostoma. Comparisons with related sequenced and non-sequenced species are discussed. With this species, a total of 51 species of Tulostoma are known in Mexico.