In this Letter, we report the discovery of a new lithium-rich yellow supergiant star -- the Cepheid V470 Cas --
that has a high lithium abundance, $ A(Li)$ = 3.29. This is highly unusual for supergiant stars. V470 Cas is joining a very select group of lithium-rich Cepheids, with only nine members known to date in our Galaxy. For the analysis of our high-resolution echelle spectrum obtained at the Canada-France-Hawaii Telescope,
methods based on both local thermodynamic equilibrium (LTE) and non-local thermodynamic equilibrium (NLTE)
assumptions were applied. In particular, the lithium abundance was derived by analysing the equivalent width
of the 6707 line. Most lithium-rich Cepheids are located near the blue edge of the instability strip near the bottom of the
Hertzsprung--Russell diagram. Their main sequence progenitors are distributed over a mass range of three
to five solar masses. Of the nine lithium-rich Cepheids known, six are double-mode pulsators, including
our programme Cepheid. It is very likely that the stars of this small group are entering the instability strip
for the first time and have not yet passed the red giant phase. Therefore, they have not experienced the
large-scale mixing event that could destroy lithium in their convective zones.