Osteochondroma is the most common benign tumor occurring in the metaphyseal region of the long bones. Extraskeletal osteochondroma, however, is relatively rare benign soft tissue tumor, commonly arising within the soft tissue of the hands, feet and surrounding knee without any continuity adjacent bone or joint. Extraskeletal osteochondroma usually present as a well-circumscribed, calcified mass that slowly enlarging and rarely exceed 3 cm in its greatest dimension. Herein, we report a rare case of extraskeletal osteochondroma. A 28-year-old male presented with a skin-colored nodule on the left first toe that had been present for 11 years. In the first year, local excision of mass had been done, but soon recurred. Tumor gradually increased in size and caused discomfort. Physical examination showed a firm, fixed nodule measuring 2.0 X 1.3 cm in dimension. Under local anesthesia, a tumor had been reached and was totally removed. The tumor was located in tendon sheath, not attached to adjacent bone. Histopathologic finding reveals hyaline cartilage cap covered with fibrous capsule at the peripheral portion, and mature trabecular bone at the center. Based on the clinical and histological findings, the extraskeletal osteochondroma was diagnosed. No recurrence was observed during the 18 months since the excision. To our knowledge, this is the first case of extraskeletal osteochondroma in Korean dermatology journal.