Schwannoma, or neurilemmoma, is a benign nerve sheath tumor most commonly located in the soft tissue. Occasionally, Schwannomas involve osseous structures. Involvement of two adjacent long bones was not found in a review of the English language medical literature. We present the case of a neurilemmoma affecting both the distal fibula and tibia. Although rare, intraosseous neurilemmoma should be included on the differential diagnosis of painful, radiographically benign-appearing lesions arising in long bones.