Expanded polytetrafluoroethylene (ePTFE) is the most commonly employed vascular prosthetic for constructing arteriovenous fistulas for hemodialysis. Venous aneurysm is a rare complication following construction of such fistulas. We describe the case of a saccular aneurysm of the cephalic vein arising after construction of a PTFE arteriovenous graft for hemodialysis. The aneurysm was successfully resected with primary repair of the vein, allowing continued use of the graft for dialysis.