Osteolipoma is an uncommon phenomenon that rarely occurs in the oral and pharyngeal region. A 68-year-old man presented with a 4-year history of a relatively small painless mass in the right mandibular alveolar mucosa adjacent to the premolar teeth. The lesion was easily excised and histologically confirmed to be an osteolipoma. Ten cases of oral and pharyngeal osteolipoma have appeared in the English literature thus far. In addition to reporting a new case of osteolipoma arising in the oral cavity in this article, the literature is reviewed accordingly.