The characteristics of Peyssonnelia capensis Montagne (Peyssonneliaceae, Rhodophyta) from Jeju Island were investigated in order to clarify the species entity and re-evaluate taxonomic position. The morphological variations of the Peyssonnelia capensis from Jeju Island were divided into two types, the thin thallus type and the thick thallus type. The thin thallus type is characterized by thin, soft, orbicular, slightly lobed thallus with entire to undulate margin, and compact rhizoids. The thick thallus type has thick and stiff thallus with sinuate margin and scattered rhizoids, and has more branches than the thin thallus type. The basal layer and the epithallium of thin thallus type are similar to those of thick thallus types in their structure. However, the hypothallial cells of the thick thallus type are longer than those of the thin thallus type. The erect filament of thick thallus type has more cells than those of the thin thallus type. Tetrasporangial nemathecia are distinctly protruded. Mature tetrasporangia of this species are divided cruciately into four spores as those of other Peyssonneliaceae. In addition to their morphological and anatomical distinctness between two types, the nucleotide sequence analyses of SSU and ITS2 region make no differences among populations from Jeju and other localities in Korea. Therefore these two morphological variation may not base on genetic variation.