Cystic lesions of the pancreas can be histologically classified into several distinct categories including pseudocyst, congenital true cyst, acquired true cyst, and cystic neoplasm. A lymphoepithelial cyst of the pancreas is a distinctive lesion characterized by the presence of mature, keratinizing squamous lining surrounded by lymphoid tissue and is reported mostly as a single case. We report the first case of a lymphoepithelial cyst of the pancreas proven histologically in Korea. A 60-year-old woman presented a pancreatic mass. Six months ago, a 5 to 10 mm multiple papular skin rash developed and was associated with fever and pruritus. Thereafter, jaundice, fatigue, and anorexia developed. These symptoms and signs resolved spontaneously 20 days later. At that time, ultrasonography of the abdomen demonstrated a 4.5 cm predominantly cystic mass arising from the body of the pancreas. Her past medical history indicated no alcohol intake, gallbladder disease or previous pancreatitis. On admission, physical examination of the abdomen was unremarkable. Serum amylase and the liver function test were also unremarkable. Serum CEA was 9.2 ng/mL. Computed tomography of the abdomen showed a 4.5 c cystic low attenuation mass in the body of the pancreas. Fine needle aspiration was performed. The CEA was 1252 ng/mL and amylase was 2840 U/dL. The cytologic examination revealed some degenerated epithelial cells and lymphocytes. At laparotomy, a smooth, encapsulated, well-circumscribed mass was found in the body of the pancreas. The mass did not invade the pancreas or other adjacent structures. The mass was completely excised. The specimen consisted of a 4 cm thin walled cyst filled with yellowish fluid. The lining was smooth and trabecular in part. Microscopically, the cyst was lined by a squamous epithelium and the epithelial lining was surrounded by lymphoid tissues with scattered germinal centers. (Korean J Gastroenterol 1997; 30:559-563)