The incidence of pancreatic malignancies in Western countries is increasing. Acceptance of fine needle aspiration as a diagnostic tool in the evaluation of pancreatic lesions necessitates that cytologists recognize unusual tumor variants as well as adenocarcinoma. The aspiration cytology of a pancreatic carcinoma containing osteoclast-type giant cells is reported, and the differential diagnosis of multinucleated giant cells in pancreatic aspirates is discussed.