An ELF hiss band with characteristics not previously identified has been observed in data from the Stanford University VLF experiment on Ogo 4. The band exhibits the typical low‐frequency cutoff characteristic of downward‐propagating hiss and also a peculiar upper cutoff in the vicinity of 600 Hz, which is nearly independent of the satellite altitude (∼430 to 900 km) and latitude above ∼15°. This band‐limited ELF hiss (BLH) is observed from ∼10° up to 55° dipole latitude, where the nearly constant upper cutoff and the increasing (with latitude) lower cutoff merge. Around ∼10° dipole latitude, the BLH exhibits a sloping upper cutoff decreasing in frequency toward the equator (equatorial erosion). The BLH is seen most frequently from ∼0600 to ∼2200 LT, although some examples have been found between 0200 and 0500 LT, with less intensity. In the range 0 to 3 kHz and up to ∼55° dipole latitude, the BLH is the strongest signal observed. Its peak amplitude may reach 2 × 10−4 γ²sol;Hz between 40° and 50° dipole latitude during daytime (∼1000 LT). After prolonged periods of low magnetic activity (Kp ≤ 2), the upper cutoff may decrease to as low as 420 Hz but recovers about one day after a sharp increase in magnetic activity, such as a sudden commencement. The decrease and smearing of the lower cutoff of the background hiss, observed at latitudes greater than about 58°, is an indication of the light ion trough. A source location in the equatorial region near L = 4 was found adequate to explain the characteristics of the BLH, as well as some of the observations of ELF hiss previously reported. Two possible generation mechanisms are briefly examined (Cerenkov and Doppler‐shifted cyclotron), but for either a certain amount of emission coherency or amplification is necessary to obtain the observed power fluxes.