In cirrhotic livers, several types of hepatocellular nodules are found during the diagnosis of hepatocellular carcinoma (HCC). To characterize the nodules is imperative for the optimal management of cirrhotic patients. However, the definitive distinction between early stage, well-differentiated HCC and borderline lesions is still difficult because histologic differences among these nodules are sequential. Therefore, it is important to appreciate the changes on imaging with the progression from benign precancerous nodule to overt HCC and to predict the prognosis of the nodules on the basis of these imaging findings.