This study is a taxonomic review of the species of Bulbothrix (Parmeliaceae, lichenized fungi) containing gyrophoric, lecanoric or lobaric acid in the medulla (Bulbothrix apophysata, B. fungicola, B. laevigatula, B. leprieurii, B. oliveirae, B. papyrina, B. pseudofungicola, B. pseudocoronata, B. scortela, B. sipmanii, B. subdissecta and B. thomasiana) that reproduce by lichenized diaspores (isidia, lacinulae, pustules, or soredia). Some of these species (B. bulbillosa, B. papyrina, B. pseudocoronata, B. pseudofungicola, B. scortella, B. subdissecta, and B. thomasiana) have been separately treated on previous papers as novelties, new combinations or resurrected valid names. The current species delimitations are confirmed. New characters are detailed (for B. laevigatula, B. leprieurii, B. oliveirae, and B. sipmanii), and range extensions are given (for B. apophysata, B. fungicola, B. laevigatula, and B. leprieurii). Two names (B. suffixa and Parmelia appressa) are respectively considered as a nomen dubium and nomen illegitimum and the problems relative to them are also discussed. A key covering all 59 accepted species of Bulbothrix is provided. A lectotype is designated for B. fungicola. An index for all names related to the genus, with their current statuses, is also given.