The knowledge of Megaloptera (Neuropterida) fauna of Colombia is updated. Based on the specimens studied and literature records, it was determined that 18 species grouped into three genera (Ilyobius Enderlein, 1910, Chloronia Banks, 1908, and Corydalus Latreille, 1802) and two families (Sialidae and Corydalidae) are recognized to occur in the country. Within the provided records, two new species of Corydalus, Corydalus liui sp. n. and Corydalus sophiae sp. n., are described and illustrated. Last larval instar of C. armatus Hagen, 1861 and C. liui sp. n. are described and illustrated. Comments about the biology and distribution of the majority of the species are included. Illustrations of the external morphology and genital structures of selected species are also provided. Keys for identification of adults and larvae accounting with descriptions of Colombian Megaloptera are presented.