We analyzed specimens identified as Amanita muscaria, some recently collected and others already deposited in herbaria, in Brazil. We concluded that two subspecies of A. muscaria occur in Brazil: A. muscaria var. muscaria; and A.muscaria var. flavivolvata. The first taxon was found in association with Castanea sativa, and the second (one specimen only) was found in association with Pinus and Eucalyptus spp. Morphologically, A. muscaria var. flavivolvata is distinguished by a shallower subhymenium and by basidiospores that are more elongated than are those of A. muscaria var. muscaria, which is the more widely known subspecies. We present descriptions, discussions, illustrations and a dichotomous key for these two subspecies.