An 11-yr-old female beaver (Castor canadensis) died after a 3 1/2 mo course of intermittent diarrhea, lethargy and anorexia. A postmortem examination revealed both a necrotizing ulcerative colitis and bilaterally enlarged thyroid glands. Histologically, the necrotizing colitis was similar to that caused by canine or feline parvovirus. Thyroid glands were multilobulated. Lobules were composed of irregularly arranged, variably sized follicles, some of which contained colloid. Follicles were lined by a pleomorphic population of tall cuboidal to columnar epithelial cells. Capsular invasion was present. Similar cells, forming follicles were present within the pulmonary parenchyma. This is the first documented case of a thyroid follicular carcinoma with pulmonary metastases in a beaver.