Extensive studies on early stage hepatocellular carcinomas (HCCs) have defined its pathomorphologic features. Most early HCCs are well-differentiated and an ill-defined nodular appearance. Proliferation of well-differentiated, small HCCs is closely related to tumor size of 1.0-1.5 cm in diameter. Furthermore, less differentiated cancerous tissues with greater proliferative activity can evolve within ti. Such a phenomenon is often appreciated grossly and/or histologically, and is called as a "nodule in nodule" appearance. We report a case of poorly-differentiated carcinoma in well-differentiated hepatocellular carcinoma (nodule-in-nodule) and concurrent moderatedly-differentiated hepatocellular carcinoma.