This review summarizes the clinicopathologic features of various lipomatous tumors of soft tissue and addresses some recent conceptual issues relating to adipocytic neoplasms, such as atypical spindle cell/pleomorphic lipomatous tumor and myxoid pleomorphic liposarcoma, and provides an update on the molecular aspects of these tumors. Recent advances in cytogenetic characterization and classification of lipomatous tumors are reviewed, and the genetic importance of distinct chromosomal aberrations are briefly discussed.