Lipoma of the colon is a relatively rare benign tumor of the colon. We report a 72-year-old woman with ascending colon lipoma presenting as periumbilical discomfort of a half-month duration. Colonoscopy revealed two tubular adenomatous polyps in the ascending colon and sigmoid colon, respectively, and they were completely removed using biopsy forceps. There was also a large, soft and bulging tumor mass with normal overlying mucosa in the ascending colon, but it was too large for endoscopic resection. Computed tomographic scans of the abdomen showed a 3.0 cm well-defined tumor with fat density protruding into the lumen of the ascending colon. Colotomy with tumor excision was performed and the histopathological finding of the resected tumor was proven to be a lipoma. The patient was discharged uneventally on the 10th hospital day and was asymptomatic after 3 months follow-up.