Primary tracheal lipomas are extremely rare neoplasms and can be difficult to diagnose due to their capacity to mimic other obstructive lung diseases. We report the case of a male patient with tracheal lipoma. He complained of shortness of breath for a long time with little response to treatment. During forced expiration in the pulmonary function test, a dramatic constant reduction in expiratory flow of the flow-volume curve was noted. Based on that, an obstructing lesion in the airway was suspected. A computed tomographic scan revealed the presence of a tumor in the mid-trachea. The tumor was confirmed by fiberoptic bronchoscopy and successfully resected by endoscopic laser. Histologic examination of the tumor showed a benign lipoma. After surgical treatment, the patient reported significant improvement in his shortness of breath.