Post-steroid panniculitis is known to be very rare and most of the reported cases have been in children after corticosteroid therapy. We present a case of post-steroid panniculitis occurring in a 60-year-old man after massive, long-term administration of corticosteroids for acute exacerbation of chronic obstructive pulmonary disease (COPD). Histopathological examination of a nodule revealed a patchy area of fat necrosis, several multinucleated giant cells containing needle-shaped clefts. The lesions subsided completely in approximately 12 weeks without any treatment. We suggest that post-steroid panniculitis is not confined to childhood but also occurs in adulthood.