Menegazzia sanguinascens is a species of foliose lichen found in southern South America.

It was first formally described as a new species in 1932 by Finnish lichenologist Veli Räsänen, who included it in genus Parmelia.

The type specimen was collected from Agostini Fjord (Chiloé Island, Chile).

[1] Rolf Santesson transferred the taxon to Menegazzia in 1942.

[2] The species contains atranorin, hypothamnolic acid, and thamnolic acid as lichen products.