The discovery of a new species of satyrine butterfly, Magneuptychia louisammour Benmesbah & Zacca, sp. n., that is phenotypically similar to a sympatric species widely known as Magneuptychia ocypete (Fabricius, 1776), led to a review of the taxonomic status of M. ocypete. A neotype for Papilio ocypete Fabricius, 1776 is designated and its redescription is provided. Neonympha sabina C. Felder & R. Felder, 1867 and Euptychia helle var. olivacea Aurivillius, 1929 are treated as junior subjective synonyms of P. ocypete and a lectotype is designated for each name. A neotype for the preoccupied name Papilio helle Cramer, 1779, and its replacement name Magneuptychia fugitiva Lamas, , is also designated, and a redescription of this name and discussion of its taxonomic status are provided. We describe an additional phenotypically similar species, Magneuptychia kamel Benmesbah & Zacca, sp. n. from the western Amazon and raise the name Magneuptychia opima sheba Brévignon & Benmesbah, 2012 to species rank (stat. rev.) on the basis of morphological and DNA sequence evidence. We also discuss the difficulties regarding taxonomic and geographical delimitation in these complex species groups. Observations on Euptychiina behaviour are also provided. Finally, based on external characters and male genitalia, a proposed preliminary arrangement of two species groups is proposed, including other species of Magneuptychia Forster, 1964 and Cissia Doubleday, 1848.