A 54-year old woman was received subtotal gastrectomy. Gastroscbpy showed Bormann type III tumor located in the antrum, incisura angularis and body. Preoperative serum AFP was 1910ng/mL. Endoscopic biopsy revealed adenocarcinoma, but after subtotal gastrectomy, the tumor contained histologic features resembling hepatocellular carcinoma with lymphatic invasion and venous invasion. So we reported it as a hepatoid adenocarcinoma. (Kor J Gastrointest Endosc 15: 735-740, 1995)