‘HoBi’-like viruses comprise a putative new species within the genus Pestivirus of the family Flaviviridae. ‘HoBi’-like viruses have been detected worldwide in batches of fetal calf serum, in surveillance programs for bovine pestiviruses and from animals presenting clinical signs resembling bovine viral diarrhea virus (BVDV)-associated diseases. To date, few complete genome sequences of ‘HoBi’-like viruses are available in public databases. Moreover, detailed analyses of such genomes are still scarce. In an attempt to expand data on the genetic diversity and biology of pestiviruses, two genomes of ‘HoBi’-like viruses recovered from Brazilian cattle were described and characterized in this study. Analysis of the whole genome and antigenic properties of these two new ‘HoBi’-like isolates suggest that these viruses are genetically close to recognized pestiviruses. The present data provide evidence that ‘HoBi’-like viruses are members of the genus Pestivirus and should be formally recognized as a novel species.