Hepatocellular carcinoma (HCC) is increasing worldwide and is the third cause of cancer-related death. HCC develops in a pre-neoplastic organ, the cirrhotic liver. Therefore, chemoprevention could play a role in the management of HCC. We have previously shown that lanreotide, a somatostatin analogue, inhibits the development of "foci of altered hepatocytes", which represent very early neoplastic changes in rat liver. Here we induced bona fide HCC by means of a different chemically induced model that is known to lead to significant fibrosis before HCC appearance. Lanreotide was given from the beginning of the experiment in one group and from the time when significant fibrosis was present in the second group. Lanreotide decreased the frequency of occurrence of HCC in both groups. In both groups, significant decreases in hepatocyte proliferation and inhibition of fibrosis were demonstrated. When given at the start of the experiment, lanreotide dramatically decreased levels of angiogenic factors and enhanced apoptosis. Further work on the anti-tumoral effect of lanreotide is called for to assess the mechanistic relationships of its anti-proliferative and anti-angiogenic actions on liver neoplastic cells.