The polistine genus Asteloeca Raw is revised. Previously monotypic, three species are recognized in the genus: A. traili (Cameron), the type species; A. ujhelyii (Ducke), newly raised from synonymy with A. traili, revised status; and A. lutea new species. New distributional records for A. traili and A. ujhelyii are provided from Brazil, Ecuador, and Peru. Asteloeca lutea is described from Bolivia, Brazil, and Ecuador, and probably occurs in French Guiana. The male genitalia of A. traili and A. ujhelyii are illustrated, the larvae compared, and photographs provided of the nests of all three species.