We developed a miniaturized high-resolution low-cost reflectance-mode fiber microscope (RFM) aimed at optical tissue biopsy applications using a polarized imaging configuration to suppress background noise from specular reflectance. The RFM is equipped with an air-cooled light-emitting-diode illumination module and a single 450-microm outer-diameter fiber bundle image guide compatible with a 20-gauge needle. The dual illumination and image acquisition nature of the fiber bundle simplifies the system and reduces the total cost. Imaging tests with a United States Air Force resolution target demonstrate a lateral resolution of approximately 3.5 microm. The performance of the imaging system is evaluated by examining samples of cells and excised human tissue. Still and video rate images are obtainable in reflectance mode using intrinsic contrast.