We report a case of gastric inverted hyperplastic polyp (IHP) combined with active bleeding ulcer. This is a rare histological type of gastric polyp and characterized by inversion growth of the mucosal epithelium into the submucosa. Most patients with gastric IHPs were asymptomatic. A 68-year-old man presented fresh bloody vomitus and tarry stool. Upper gastrointestinal endoscopy showed a submucosal tumor (SMT) with active ulcer in the middle body. Partial gastrectomy was performed to resect the tumor, measuring 28 mm x 26 mm x 18 mm. The pathological diagnosis was gastric IHP. The patient was discharged and subsequently followed-up for 6 years without complications. We discuss the pathogenesis of this polyp and review of the literature.