Panfolliculoma is a rare, benign skin appendageal tumor with its distinctive histologic appearance showing differentiation towards all components of the hair follicle, including the upper and the lower segments. It usually presents as a solitary cystic tumor resembling other lesions, such as basal cell carcinoma and trichoepithelioma. A 69-year-old female presented with a five-year history of a protruding nodule on her left thigh. It has shown slow increase in growth without subjective symptoms. Through skin biopsy, panfolliculoma was finally diagnosed. Herein, we report the first case of panfolliculoma in Korean literature which should be considered as a differential diagnosis of benign appendageal tumor entitiy.