Terranova pectinolabiata n. sp. is described from the great hammerhead, Sphyrna mokarran, from Australian waters. This represents the first report of a species of Terranova from the host species. The new species is characterised by the morphology of the caudal plates and labia. ITS sequences were obtained for 20 specimens which were identical, despite morphological variation that has traditionally been indicative of separation of species. Additionally, genetic analyses confirmed the identification of the larval Terranova Type II previously reported in Australian and New Caledonian waters as Terranova pectinolabiata n. sp.