Psilocybe alutacea is a species of agaric fungus in the family Hymenogastraceae. It was described in 2006 and is known from Australia and New Zealand. It is corprophilous, growing on animal dung. The fruitbodies have a small conical or convex cap, subdistant gills with an adnate attachment, a slender brown stipe and a faint blueing reaction to damage. As a blueing member of the genus Psilocybe it contains the psychoactive compounds psilocin and psilocybin.