Liver transplantation is proposed as the best therapy for early hepatocellular carcinoma in cirrhotic patients. However, the confrontation with the results obtained by surgical resection has never been done on an intention-to-treat basis. Between 1989 and 1997, 164 out of 1,265 patients with hepatocellular carcinoma were evaluated for surgery. Seventyseven (48 men, mean 61 years of age, 74 Child-Pugh class A, size 33 ؎ 18 mm) were resected (first line option) and 87 (65 men, mean 55 years of age, 50 Child-Pugh class B/C, size 24 ؎ 14 mm) were selected for transplantation. The 1-, 3-, and 5-year ''intention-to-treat'' survival was 85%, 62%, and 51% for resection and 84%, 69%, and 69% for transplantation (8 drop-outs on waiting list). Bilirubin and clinically relevant portal hypertension were independent survival predictors after resection. Thereby, the 5-year survival of the best candidates (absence of clinically relevant portal hypertension, n ؍ 35) was 74%, whereas it was 25% for the worst candidates (portal hypertension and bilirubin H1 mg/dL, n ؍ 27) (P F .00001). The variable ''drop-out on waiting list'' was the sole survival predictor after transplantation. The 2-year survival rate of patients evaluated for transplantation was 84% in the 1989 to 1995 period (mean waiting time, 62 days; no drop-outs) and 54% during 1996 to 1997 (mean waiting time, 162 days; 8 drop-outs)(P F .003). This outcome was significantly lower than that of the best candidates for resection (P ؍ .002). In conclusion, a proper selection of candidates for resection promotes better results than transplantation, in which the results are significantly hampered by the growing incidence of drop-outs because of the increasing waiting time. (HEPATOLOGY 1999;30:1434-1440.)There are no randomized controlled clinical trials (RCTs) comparing orthotopic liver transplantation (OLT) versus surgical resection for early hepatocellular carcinoma (HCC) in cirrhotic patients. By now, such an RCT should be considered largely unfeasible because it would require a very large sample size, thus involving several centers sharing the same selection criteria and therapeutic skills. Thus, the debate regarding which should be the preferred treatment option is based on the comparison between the outcomes of independent cohorts of patients. This approach suggests that OLT offers better life expectancy, 1-7 but this assumption is misleading. There are no intention-to-treat studies, and this is of paramount importance because a noteworthy proportion of patients will be excluded from the transplantation program because of tumor growth or development of contraindications while waiting for a donor. Spain has the highest liver donation rate throughout the world (20 liver donors/10 6 inhabitants), 8 and the proportion of drop-outs (because of death or appearance of contraindications) is nowadays around 15%. 9 Furthermore, although the encouraging survival data described for HCC patients effectively transplanted (75% at 5 years) are due both to a restrictive selection p...