Steatocystoma multiplex and eruptive vellus hair cysts are uncommon benign tumors of the pilosebaceous unit. They share a clinical resemblance, but have distinctive histologic features. It has been proposed that these clinical entities are a spectrum of the same disease process. A 23-year-old man presented with multiple papules on the neck and chest for 10 years. On physical examination, there were flesh-colored smooth papules on the neck and follicular papules on the chest. Histologic findings of the flesh-colored smooth papules revealed cysts lined by wavy eosinophilic cuticle and lack of a granular layer. In contrast, histologic findings of the follicular papules revealed cysts lined by mature squamous cells with a granular layer, and containing vellus hairs and layered laminated keratinous material. Based on these findings, diagnoses of steatocystoma multiplex and eruptive vellus hair cysts were made. Herein, we report a case of coexistence of steatocystoma multiplex and eruptive vellus hair cysts in a patient which is rarely reported in the Korean literature. This case possibly support the idea that steatocystoma multiplex and eruptive vellus hair cysts are within the spectrum of the same disease process.