Cystic neoplasms of the pancreas are divided into two major groups: microcystic adenomas and mucinous cystic neoplasms. Five microcystic adenomas and seven mucinous cystic neoplasms (three cystadenomas and four cystadenocarcinomas) were examined with both magnetic resonance (MR) imaging and computed tomography (CT). The cystic content was differentiated more easily with MR imaging than with CT. It was homogeneous in four of the five microcystic adenomas, all of which had lobulated borders best seen on T2-weighted images. The mucinous cystadenomas and cystadenocarcinomas were all composed of multiple compartments that varied in signal intensity. The septa, shape, and wall thickness were demonstrated on T1- and/or T2-weighted MR images almost as well as on CT scans. Overall, MR imaging was equal or slightly superior to CT in the diagnosis of pancreatic cystic neoplasms, except in its limited ability to demonstrate calcifications of the tumor wall and septa.