Contralateral tension pneumothorax during one‐lung ventilation is a rare but catastrophic surgical complication. A 72‐year‐old Japanese male with lung cancer underwent right upper lobectomy with video‐assisted thoracoscopic surgery. Despite use of various methods for maintaining oxygenation during one‐lung ventilation, percutaneous oxygen saturation was unstable from the start of surgery and suddenly decreased with a drop in blood pressure. An intraoperative chest X‐ray revealed a tension pneumothorax of the dependent lung. Insertion of a chest drain saved the patient's life. This case suggests that a contralateral tension pneumothorax should be considered as a possible cause when adequate oxygenation cannot be maintained during one‐lung ventilation.