Intraosseous lipoma is rare and often misdiagnosed. A patient with intraosseous lipoma in the calcaneus is presented with conventional radiography, bone scintigraphy, magnetic resonance imaging and histological findings. The intention of this work is to show the diagnostic procedure of a rare bone tumor. Despite its benign nature, the tumor is often salvaged by surgery. However, a simple observation can avoid unnecessary surgical intervention and complication.