The Spanish Lichen Society (SEL) has recently launched an initiative to create a Red Lists of lichen-forming and lichenicolous fungi for Spain and Portugal (including the Canary Islands, Madeira and Azores) in order to increase the knowledge on the extinction risk of putative menaced species by assessing threats according IUCN criteria and to provide accurate information for conservation measures. A first package of nineteen species was evaluated in 2019. Here, we present the threat assessments corresponding to 27 lichen-forming fungi. Profiles follow recommendations proposed by Atienza & al. (2017, British Bulletin 120). Datasheets include the following aspects: 1) Main characters for identification; 2) Ecology and habitat description; 3) Map of areas of occurrence including: extent of occurrence (EOO), area of occupancy (AOO), number of localities; 4) Main threats to species survival; 5) IUCN Red list category and criteria used for assessment; 6) Proposed conservation actions that are needed to mitigate these threats; and 7) Research needed. The following species are documented: Acarospora reagens, Anzia centrifuga, Circinaria fruticulosa, Cladonia deformis, C. sulfurina, Cryptodiscus gloecapsa, Degelia plumbea, Immersaria uzbekica, Koerberiella pruinosa, Lecanora sabinae, Lecidea circinarioides, Leptogium laceroides, Letharia vulpina, Lobaria pulmonaria, L. virens, Lobarina scrobiculata, Parmotrema sampaioi, Platygramme buxi, Ramalina deminuta, R. portosantana, R. subgeniculata, R. thrausta, Rinodina striatitunicata, Sticta limbata, Tornabea scutellifera, Vahiella saubinetii, Variospora cancarixiticola.