The genus Lobothorax Bleeker, 1857 is revised with the description of a new species collected from the gempylidaen fish Promethichthys prometheus (Cuvier, 1832) from the southwestern coast of India. A revised generic diagnosis is provided based on the redescription of the type species. Lobothorax aurita (Schioedte and Meinert, 1883) is here synonymised with Lobothorax typus Bleeker, 1857 based on the original description. Lobothorax nicosmiti Aneesh, Bruce and Kumar sp. nov. is described from the female stage and it is characterized by: pereonite 1 anterolateral expansion not extending to the anterior margin of cephalon; coarsely pitted pereonites dorsal surfaces; pereonites without dorsal median longitudinal ridges; anteriorly truncate cephalon; pleotelson about 0.6 times as long as wide, posterior margin weakly emarginate, broadly sub-truncate, lateral margins convex; maxilliped palp article 3 with three RS; pereopods basis much wider with prominent carina. A key to the species of Lobothorax Bleeker, 1857 is presented.