Objectives: To establish a radiomic algorithm based on grayscale ultrasound images and to make preoperative predictions of microvascular invasion (MVI) in hepatocellular carcinoma (HCC) patients. Methods: In this retrospective study, 322 cases of histopathologically confirmed HCC lesions were included. The classifications based on preoperative grayscale ultrasound images were performed in two stages: (1) classifier #1, MVI-negative and MVI-positive cases; (2) classifier #2, MVI-positive cases were further classified as M1 or M2 cases. The gross-tumoral region (GTR) and peri-tumoral region (PTR) signatures were combined to generate gross-and peri-tumoral region (GPTR) radiomic signatures. The optimal radiomic signatures were further incorporated with vital clinical information. Multivariable logistic regression was used to build radiomic models. Results: Finally, 1,595 radiomic features were extracted from each HCC lesion. At the classifier #1 stage, the radiomic signatures based on features of GTR, PTR, and GPTR showed area under the curve (AUC) values of 0.708 (95% CI, 0.603-0.812), 0.710 (95% CI, 0.609-0.811), and 0.726 (95% CI, 0.625-0.827), respectively. Upon incorporation of vital clinical information, the AUC of the GPTR radiomic algorithm was 0.744 (95% CI, 0.646-0.841). At the classifier #2 stage, the AUC of the GTR radiomic signature was 0.806 (95% CI, 0.667-0.944). Conclusions: Our radiomic algorithm based on grayscale ultrasound images has potential value to facilitate preoperative prediction of MVI in HCC patients. The GTR radiomic signature may be helpful for further discriminating between M1 and M2 levels among MVI-positive patients.