Valproic acid is a reliable and comparatively safe drug in the treatment of special forms of absence seizures. Severe but very rare complications include acute liver necrosis and acute pancreatitis which may end lethally. A case of a previously unreported association of pancreatic pseudocyst and development of cholestatic icterus in conjunction with valproic acid therapy is presented. The clinical signs of icterus and chronic pancreatic failure disappeared when we terminated the therapy.