Paraorygmatobothrium taylori n. sp. (Tetraphyllidea: Phyllobothriidae) is described from the Australian weasel shark Hemigaleus australiensis White, Last & Compagno in Moreton Bay, off Queensland, Australia. The new species differs from 10 of the 11 described species of Paraorygmatobothrium Ruhnke, 1994 by the possession of prominent, semicircular bothridial muscle bands. From P. barberi Ruhnke, 1994, with which it shares the bothridial muscle bands, it differs in the possession of a cephalic peduncle and vitelline follicles that extend almost to the mid-line of the proglottis and are reduced, rather than completely interrupted, at the level of the ovary. P. janineae Ruhnke, Healy & Shapero, 2006 is recorded from its type-host but in a new locality, Moreton Bay, off Queensland, Australia. P. taylori is the third species of the genus recorded from the Hemigaleidae in Australian waters. Three of the eight known hemigaleid species are now recorded to harbour this genus, and three different species are now known from the two hemigaleids found in Australian waters.