For comparative and evolutionary studies, satellite species that are closely related to established model organisms are valuable. In the genus Caenorhabditis, several species (e.g., C. briggsae, C. brenneri and C. remanei) have been used as satellite models for C. elegans, but no phylogenetic “sister” species to C. elegans has been isolated. Recently we discovered a new species Caenorhabditis sp. 34 from syconia (fresh fruits) of the fig Ficus septica in Ishigaki Island, Japan. C. sp. 34 is gonochoric and shares typological key characters with other Elegans supergroup species, but strikingly, adults are nearly twice as long as C. elegans. The optimal culture temperature (27°C) for C. sp. 34 is significantly higher than that of C. elegans (20°C). Dauer larvae were detected in the fig syconia, but generally not observed in laboratory culture conditions. Despite these marked ecological and morphological differences, phylogenetic analysis based on the genome sequences revealed that C. sp. 34 is a long-sought sister species to C. elegans. We assembled a draft genome sequence of C. sp. 34 using data from a mixture of sequencing technologies (Illumina and PacBio). A similar number of protein-coding genes to the C. elegans genome was predicted, but 7TM GPCR domains are diminished in C. sp. 34, whereas transposon-related domains are highly enriched. To make C. sp. 34 a genetically tractable satellite organism, we have been developing genetic and molecular techniques/tools by transferring the ones established in C. elegans. Heritable transgenic lines were obtained by microinjection of commonly used C. elegans marker plasmids into female adult gonads, although the frequency was lower than that in C. elegans. Both soaking and feeding RNAi in C. sp.34 worked as efficiently as in C. elegans. Taken together, its high-quality genome information, genetic tractability, and characteristic morphology and ecology make C. sp. 34 an attractive satellite model organism for a wide range of studies in comparative and evolutionary biology.