The Megaloptera fauna of Madagascar comprise two endemic genera: Haplosialis Navás, 1927 (Sialidae) and Madachauliodes Paulian, 1951 (Corydalidae: Chauliodinae). Here the two genera are revised, with detailed descriptions and illustrations. A new species, Madachauliodes bicuspidatus Liu, Price & Hayashi, sp. nov., is described. Furthermore the phylogeny and biogeography of the Madagascan fauna is discussed.