The rediscovery of the enigmatic subterranean characiform Stygichthys typhlops is reported almost a half-century after the collection of the holotype, the only specimen previously known. Thirty-four specimens were collected in two shallow hand-dug wells at the region of the type locality, c. 13 km south-west of the town of Jaíba, Minas Gerais, Brazil. These specimens provide new information on the morphology of this species, and for the first time on its life history. The conservation status of S. typhlops is discussed. The species is severely threatened by habitat loss caused by exploitation of the aquifer.