Subcutaneous fat necrosis of newborn is a form of panniculitis that often occurs in term and post-term neonate with predisposing risk factors such as perinatal asphyxia and maternal gestational diabetes. A cutaneous involvement may be associated with metabolic complications such as hypoglycemia, hypercalcemia and hypertriglyceridemia. Here, we present a case of Subcutaneous fat necrosis of newborn with bilateral symmetrical involvement of both axillas in a perinatal asphyxiated newborn that has not been previously described in the literature. In this case, there were no major complications apart from asymptomatic hypercalcemia.