A cystic lesion of the pancreas is a radiographic finding that has a broad histologic differential. This differential includes non-neoplastic pseudocysts, benign neoplastic cysts, premalignant cysts, and cystic lesions with invasive carcinoma [1]. Because of the increased use of high-quality cross-sectional imaging, an increasing number of patients are being identified with small asymptomatic cysts, and the management of these patients has become very controversial [2,3]. This controversy has centered on the inability to determine the exact histopathologic diagnosis without resection. Because of this diagnostic uncertainty, many authors have recommended routine resection of all pancreatic cysts [4,5]. It should be emphasized, however, that the ability to determine the histologic diagnosis of pancreatic cysts without resection continues to improve, and current imaging and endoscopic techniques can typically differentiate benign serous from pre-cancerous mucinous cysts of the pancreas. In addition, even within the mucinous sub-group, our ability to detect high-risk lesions is improving.Because of these improvements in diagnosis, we have recommended a more selective approach to resection [6][7][8]. We have found that with current imaging techniques, and with an improved understanding of the various histologic entities, a group of patients can be identified who have an extremely low risk of malignancy. Within this group of patients, we routinely recommend non-operative management (radiographic followup). These patients typically have small (<3 cm), incidentally discovered cysts of the pancreas that do not have a solid component or other concerning clinical or radiographic features of malignancy (such as main pancreatic duct dilation). This selective approach avoids the risks of operation in patients with benign lesions, but with current limitations in non-resectional diagnosis, cannot guarantee that a malignancy is not mistakenly being observed. Operative mortality rates following pancreatectomy range between 2 and 15 % and significant postoperative complications occur in approximately 45 % of patients [9]. Our data suggest that with current imaging and endoscopic techniques, a group of patients with pancreatic cysts can be identified with a malignancy rate of <3 % [8]. In this group of patients, the risk of death from pancreatectomy exceeds the risk of the lesion being malignant and radiographic surveillance should be recommended.When the histopathology of a given cyst can be determined non-operatively, the treatment recommendations may be less challenging. In these instances, treatment recommendations can be made based on the known natural history of the specific histologic entity. For instance, when diagnostic evaluation identifies a patient with a serous cystadenoma (SCA), radiographic surveillance should be the routine recommendation. Resection for SCA should be reserved for the symptomatic patient, or in a healthy patient in whom significant growth has been observed. Patients identified with mucinous cystic ne...