A new species of the genus Farranula Wilson, 1942 (Cyclopoida, Corycaeidae) is described based on bothsexes collected off Chuuk Island in Micronesia (West Central Pacific). The new species F. dahlae differsfrom its close congener F. gibbula (Giesbrecht, 1891) in the following combination of characters in bothsexes: body length is longer, length to width ratio of caudal rami is larger, basal element of maxilliped isdistinctly longer, and terminal spine to distal segment ratio of P4 is smaller; while in females, lateral marginsof fourth pedigerous somite are extended to mid-region of second urosomal somite, maximum width of thesecond urosomal somite is located at middle region in dorsal and lateral views, and length ratio of caudal setaIII to seta V is much larger; and in males, sharply contracted portion of second somite is located at two-thirdsdistance from anterior margin. Some additional morphological details of F. gibbula are given and a key tospecies of the genus Farranula is provided.