Lipoma is a common benign soft tissue tumor. It is frequently located on the trunk, chest, upper thigh, upper arm, and shoulder. Lipoma of the toe was reported mainly in children. We present a rare case of digital lipoma which occured in a 56 year old female patient. Clinically, lipoma of the toe is often missdiagnosed as digital myxoid cyst or subungal exostosis. (Korean J Dermatol 2003;41(5) : 649~650)