A thymoma was an incidental finding in a seven-year-old, female neutered, crossbred dog referred for an acute hepatopathy. Excision of the thymoma was performed via median sternotomy, and 11 weeks later the dog presented with severe neutropenia. The bone marrow was hypercellular, and paraneoplastic immune-mediated neutropenia was diagnosed following exclusion of other causes. The neutrophil count increased to normal within seven days of treatment with prednisolone, which was subsequently tapered. A caudal mediastinal mass was documented 17 months following initial thymoma excision, and pleural and mediastinal metastases were evident on CT. Cytology was consistent with carcinoma. Following the prescription of toceranib phosphate, there was stable disease on CT at eight weeks and six months. At 12 months there was severe locoregional progression and the dog died nine days thereafter. Postmortem examination showed diffuse metastatic carcinoma of the caudal mediastinum, parietal pleura and diaphragm, and histopathology/immunohistochemistry was most consistent with thymic carcinoma.