Warty dyskeratoma is a rare benign follicular adnexal tumor characterized by acantholysis and dyskeratosis. It typically presents as a solitary papule or nodule with a central keratin-filled crater, most commonly involving the head and neck region. Occurrence on the lower extremities is exceedingly rare and may pose a diagnostic challenge due to its resemblance to malignant and other benign cutaneous lesions. We report a case of warty dyskeratoma occurring on the lower leg of an adult patient, highlighting its clinical, dermoscopic, and histopathological features. Histopathology revealed characteristic suprabasal clefting with villi formation, corps ronds, and grains, confirming the diagnosis. This case emphasizes the importance of clinicopathological correlation in diagnosing rare adnexal tumors and avoiding misdiagnosis.