Hygrophorus subalpinus, commonly known as the subalpine waxycap,[1] is a species of white snowbank fungus in the family Hygrophoraceae.

The cap of H. subalpinus is typically 4 to 6 cm (1+5⁄8 to 2+3⁄8 in) in diameter, with a convex shape that becomes flattened in age; sometimes it develops a central umbo (a rounded elevation resembling a nipple).

[2] The spores are white in deposit; microscopically, they are ellipsoid and smooth, with dimensions of 8–10 by 4.5–5 μm.

[5] The fruit bodies of H. subalpinus grows in large clusters under conifers, often near snowbanks, and typically at high elevations, such as on mountains.

[1] The external appearance of Hygrophorus ponderatus resembles H. subalpinus, but the former species has a sticky or slimy cap surface, a veil that appears to be made of fibers (rather than a membrane), and narrower gills.