A case is reported of an 84-year-old white man in whom a palisaded encapsulated neuroma (PEN) had developed in his glans penis over the course of 50 years. It represents a distinctive cutaneous nerve sheath tumor that consists of an overgrowth of both axons and Schwann cells and is surrounded by a complete or incomplete capsule of perineural cells. This entity warrants wider recognition by urologists and uropathologists. To our knowledge this is the first description of this kind of tumor in the glans penis.