This report describes two unusual cases of parasellar arachnoid cyst with different neuro-ophthalmologic manifestations and clinical courses: a 33-year-old woman with parasellar arachnoid cyst, manifested by incongruous homonymous hemianopia, and a 64-year-old man with a presumed parasellar arachnoid cyst and bitemporal hemianopia that subsequently decompressed spontaneously. Parasellar arachnoid cyst is uncommon, and the clinical course has been incompletely described in the literature. Optimal treatment of patients with these cysts necessitates better understanding of their signs, symptoms, and clinical course.