Microterys Thomson species housed in Museo Nacional de Ciencias Naturales (MNCN) were studied. All Microterys species found in the Iberian Peninsula were examined except Microterys cyanocephalus (Dalman), which was not represented in MNCN. Two species, M. zarina (Walker) and M. aeneiventris (Walker), are rehabilitated in the genus Microterys, which previously were transferred to the genus Aschitus. Two species (M. hortulanus Erdos and M. notus Sugonjaev) are recorded for the first time from the Iberian peninsula, and two species (M. brachypterus (Mercet) and M. aeneiventris (Walker)) for Austria. Two new species (M. weyericus n. sp. and M. aldreyi n. sp.) are also described. Five misidentified samples were found. A key to all 24 species in MNCN including Iberian peninsula species is provided.