Incidentally discovered thyroid lesions have become increasingly common with the development and more frequent utilization of highly sensitive imaging modalities throughout the clinical practice of medicine. Determining the most appropriate management of these "incidentalomas" has presented a significant challenge to both endocrinologists and endocrine surgeons. Algorithms with which to accurately identify those malignant lesions hidden amongst the overwhelming majority of those which are benign have not yet been established. This article will review the existing literature concerning the subject of thyroid incidentalomas and recommend a methodical approach to evaluating these patients such that the greatest number of malignancies may be detected while subjecting the fewest patients with benign lesions to unnecessary testing. Additionally, the role of the radiologist as an integral part of the multidisciplinary team of surgeons, endocrinologists, and cytologists working together to identify those patients with the highest risk of malignancy will be explored.