Inverted papilloma arising from mucous membrane of nasal cavity and paranasal sinuses is very rare. Tumor appears grossly very similar to a typical nasal polyp. This histologically benign neoplasm must be treated like a premalignant tumor for two reasons : 1) it is locally invasive, showing at times extensive bone erosion and shows a high incidence of local recurrence ; and 2) focal areas of squamous cell carcinoma are sometimes found right next of the papilloma. Recently, we have experienced a inverted papilloma arising from Rt. septal mucous membrane in 49-year-old male patient whose chief compliant was massive nasal bleeding. After removal of mass including only mucous membrane under impression of hemorrhagic polyp, histopathologic result of mass was noted to typical inverted papilloma. Local recurred mass on Rt. Inferior turbinate was noted and septal perforation was also noted, postoperatively 4 months. So total Rt. inferior turbinectomy and wide resection of mucous membrane and cartilage around perforation were done.