Subcutaneous fat necrosis of the newborn is an uncommon disorder characterized by firm subcutaneous plaques and nodules usually appearing shortly after birth. It runs a relatively benign course and may completely resolve in a few manths without any recurrence, We report a case of subcutaneous fat necrosis in a 15 day-old male suffering from severe perinatal asphyxia and hypoxic cardiomyopathy, who presented with indurated subcutaneous nodules and plaques on the both shoulders and the back. Histologically the subcutaneous fat showed focal necrosis with needle-shaped clefts, lymphohistiocytic infiltration and foreign body reactions consistent with subcutaneous fat necrosis of the newborn. In our patient, compromised cardiac output due to cardiomyopathy might have aggravated the hypoxic condition and it could be speculated that cardiomyopathy-induced systemic hypoxia gave rise to hypothermia of the skin as a result of peripheral vasoconstriction. This report presents a causal relationship of cardiomyopathy and subcutaneous fat necrosis of the newborn. (Ann Dermatol 9:(1)36~40, 1997).