We analyze the flavor changing decay h → μt in the framework of a two Higgs doublet model with a fourth generation of fermions (4G2HDM) which couples only to the heavy scalar doublet. We find that the respective branching ratio at one-loop level can reach values as high as 10-4-10-6 for masses of 300 GeV-1 TeV for the heavy leptons in the fourth family and the new heavy Higgs bosons. These radiative corrections are of the same order of magnitude as the tree level prediction of the 4G2HDM.