The number of species in the genus Polylepis has changed, according to the systematic treatments, from 33 to 28; however, until now there is not a clear species delimitation. It has been complicated to define evolutionary origins and understand speciation. This complexity may be the result of different processes acting independently or interacting: recent radiation, poliploidy, hibridization and the human intervention in its distribution, depending of the species group. In this article, we revised the taxonomic status of the genus Polylepis. Twenty-eight species are proposed, with the inclusion of two new species for Perú and one species (P. tomentella) with three subespecies. In addition, gaps of knowledge are analyzed and strategies of research are proposed to improve species delimitation. Incorporating a taxonomic structure could generate new insights to conservation, restoration and management projects; taxonomists and conservationist need to work together to define conservation units to avoid ambiguities and define new strategies.