Hepatoblastomas are more common in childhood but extremely rare in adults. A further case of hepatoblastoma in an adult is reported: The tumor consisted of two components, epithelial and mesenchymal ones. Both were well-separated from each other and showed different ways of metastasizing in to lymphatic vessels and lymph nodes or in to blood vessels and lung, respectively. It is concluded that hepatoblastomas of mixed type originate from two different cell types: The tubular and, sometimes, acinar malignant cells originate from the epithelium of the foregut and the osteo-osteoid-chondromatous malignant component is derived from mesenchymal cell of the coelomic wall.