We report a case of adrenal adenoma with organizing hematoma mimicking hemangioma on magnetic resonance imaging (MRI). The lesion demonstrated heterogeneous hyperintensity on heavily T2-weighted images. On dynamic contrasted–enhanced MRI, the lesion demonstrated early, patchy peripheral enhancement with subsequent fill-in that persisted. Chemical shift gradient-echo images failed to demonstrate the presence of intracellular lipid. Magnetic resonance imaging failed to characterize the lesion, and an erroneous preoperative diagnosis of adrenal hemangioma was made. Although the MRI findings reflected the organized hematoma with abundant vascular spaces, our case emphasizes the point that the MRI characteristics of intratumoral hemorrhage may overlap with those of adrenal hemangioma and chronic expanding hematoma.