Two cases of Papillary cystic tumor of pancreas--one metastasizing to lymph node and the other non-metastasizing are reported for their rare occurrence. Both occurred in young females and presented with heaviness and pain in the left hypochondrium with palpable mass. On radiological examination, mass was arising from tail of pancreas and had typical gross features. The histological findings seen in metastasizing tumor were capsular invasion, infiltration to surrounding pancreatic tissue and vascular invasion with metastasis to lymph node. Difference in nuclear grade or mitosis was not observed. Adjuvant chemotherapy was given for metastasizing tumor and patient is symptom free after 56 month. Non-metastasizing case is well after 15 months.