A 44-year-old man was transferred to our hospital because of deterioration of liver function. He was diagnosed as having Graves' disease, congestive heart failure and cholestatic liver failure, and started treatment with oral iodine, thiamazole, diuretics and β-blockers. The patient's condition was complicated with thyroid storm and spontaneous bacterial peritonitis (SBP). But the treatment for Graves' disease and SBP quickly cured the thyroid storm. Along with the improvement of the hyperthyroidism, the liver function also improved rapidly. We experienced a case of liver dysfunction that was caused by not treating Graves' disease. The present case suggested the importance of including Graves' disease in the differential diagnoses in cases of liver dysfunction.