Chondroid lipoma is a recently described benign tumor of adipose origin which, pathologically, mimics myxoid liposarcoma and myxoid chondrosarcoma. This tumor typically presents as a well-defined mass in the superficial tissues of the extremities. In this report, we present the magnetic resonance imaging (MRI) appearances of a pathologically proven chondroid lipoma. To our knowledge, this is the first report of any imaging findings associated with this tumor.