This report describes a rare intra-articular angiolipofibroma-like tumor of the knee, which developed in a 51-year-old male. The patient suffered from painful sensation, interruption of normal motion, and erythematous change of the skin over the right knee for 2 days. Magnetic resonance images showed a mass in the supra-patellar pouch of the right knee with a stalk connecting to the synovium. The mass was totally excised under arthroscopic guidance and intra-articular angiolipofibroma-like appearance with central infarction confirmed by histological examination. To our knowledge, angiolipofibroma-like lesion of the knee with MR demonstration and histological correlation has never been reported.