New narrow-band Hα imaging and subsequent optical spectra confirm G315.1+2.7, a previously identified candidate supernova remnant (SNR), as a bona fide Galactic SNR. Present observations are based on independent discovery of filamentary optical emission nebulosity on images of the Anglo-Australian Observatory/United Kingdom Schmidt Telescope Hα survey of the southern Galactic plane which were found to coincide with existing multifrequency radio detections. Separate medium- and high-dispersion spectra were taken across two locations of this 11-arcmin north–south (NS) aligned optical filament. The resulting spectral signatures were found to strongly confirm the SNR identification based on standard emission-line ratio discriminators which characterize emission from shock-heated gas. The average observed ratios of S ii/Hα= 1.13, N ii/Hα= 1.43 and S ii 6717/6731 = 1.46 , together with the simultaneous detection of [O ii] 3727, [O iii] 5007 and [O i] 6300 Å, all point to a SNR origin of the observed optical emission. There is also an excellent positional coincidence between the new Hα filament and the north-east radio arc of G315.1+2.7 seen at several frequencies. Careful scrutiny of the low-resolution but high-sensitivity Southern Hα Sky Survey Atlas also revealed a low-level but distinct optical emission arc. This arc precisely correlates with the large, 2.5°, NS angular extent of the proposed new SNR also seen as a fractured structure in the extant radio data. G315.1+2.7 was detected previously at 2400 and 4800 MHz and at 408 and 1420 MHz. We also identified associated radio emission at 843 MHz from the now publicly available Sydney University Molonglo Sky Survey. On the basis of optical imaging and spectra and radio observations at five frequencies, we identify G315.1+2.7 as a new Galactic SNR. The large projected angular extent of the new remnant, together with the distance estimate of ∼1.7 kpc and diameter of ∼80 pc, make G315.1+2.7 one of the largest remnants known.