A case of a pleomorphic giant cell tumor of the pnacreas in a 54 year old man is presented. It produced hugecystic mass in the pancreatic area ultrasonographically. Also multiple loculated pancreatic pseudocyst andmultiple low densities in liver were presented in CT. Pathologically this case was a form of giant cell carcinomawhich was called as epulis-osteoid type, but the osteiod component in this case was not conspicuous.