A well defined lucent lesion is seen within the calcaneal bone. Differential diagnosis includes: simple bone cyst, aneurysmal bone cyst, intraosseous lipoma and enchondroma. The last two lesions may have calcific foci within. This case proved after surgical excision to be intraosseous lipoma. The central dot calcification sometimes detected within an intraosseous lipoma (called cockade sign) is not seen here.