Intraosseous lipoma is rarely reported in the literature, despite the fact that lipocytes are found as normal components of medullary bone. It is a primary bone tumor that originate from within the medullary cavity. The incidence of intraosseous lipoma has been reported as less than one per thousand bone tumor. The authors experienced a patient who had the findings of bilateral intraosseous lipoma of the calcaneus. We report a case of bilateral intraosseous lipoma of the calcaneus with brief review of literature.