Recent fossil discoveries have cast considerable light on the palaeobiology of Megaraptora, a group of large-clawed carnivorous theropod dinosaurs known from Cretaceous deposits in Asia, Australia, and especially South America. Nevertheless, many important aspects of megaraptoran morphology and evolution remain poorly understood, due in large part to the fragmentary nature of most fossils of these theropods and the scarcity of anatomically overlapping skeletal elements among the known taxa. Here we report a previously unknown megaraptoran genus and species represented by a partially articulated partial skeleton recovered from an uppermost Cretaceous stratum of the Lago Colhué Huapi Formation of south-central Chubut Province in central Patagonia, Argentina. Pertaining to the derived megaraptoran subclade Megaraptoridae, the taxon is among the most completely represented and latest-surviving megaraptorans. Its stratigraphic occurrence indicates that these dinosaurs likely persisted to the Cretaceous/Palaeogene boundary; moreover, the preservation of a crocodyliform humerus between the dentaries of the new theropod may provide information on megaraptoran dietary preferences and feeding strategies. Megaraptorids appear to have been the apex predators in central and southern Patagonian palaeoecosystems approaching the end of the Cretaceous, in contrast to more northerly areas of South America where these niches were occupied by other non-avian theropod groups.