Our goal in this paper is to extend the theory of quasi-exactly solvable Schrödinger operators beyond the Lie-algebraic class. Let Pn be the space of n-th degree polynomials in one variable. We first analyze exceptional polynomial subspaces M ⊂ Pn, which are those proper subspaces of Pn invariant under second order differential operators which do not preserve Pn. We characterize the only possible exceptional subspaces of codimension one and we describe the space of second order differential operators that leave these subspaces invariant. We then use equivalence under changes of variable and gauge transformations to achieve a complete classification of these new, non-Lie algebraic Schrödinger operators. As an example, we discuss a finite gap elliptic potential which does not belong to the Treibich-Verdier class.