Thyroid neoplasms represent the most common malignancies of the endocrine system. They are known to occur in association with benign lesions of the thyroid, like multinodular goitre and Hashimoto thyroiditis. AIMS AND OBJECTIVES: To study the neoplasms of thyroid and their peritumoral morphology. MATERIALS AND METHODS: All thyroidectomy specimens received in the Department of Pathology, RRMCH over a period of three years from June 2011 to May 2014 were included in the study. Thyroidectomies for non-neoplastic lesions were also extensively sampled and morphologically studied, with focus on peritumoral morphology, in neoplasms. RESULTS: Of the one hundred and fifty four thyroidectomy specimens received over three years, one hundred and thirteen (73.4%) were non-neoplastic, and forty one were neoplastic (26.6%). Colloid goitre and lymphocytic infiltrate were the most common features in the peritumoral thyroid tissue, followed by multinodular goitre. Hashimoto thyroiditis and Hurthle cell change were noted in 11.5% of cases. Tumors were multicentric in 11.5% of cases. Malignancy was detected in eight of the fifty nine thyroidectomies performed for multinodular goitre. Of the thirty four surgeries for Hashimoto thyroiditis, four were reported as malignant on histopathology. CONCLUSION: All thyroidectomies, including those operated for benign lesions, need to be extensively sampled and morphology studied due to the possibility of occult malignancy. Larger series need to be studied to find a causal association between the two.