Placental mesenchymal dysplasia is a rare condition that, due to placental characteristics, can be confused with a molar disease. Among the most frequent findings is an enlarged placenta and the presence of “grape-shaped vesicles”. The suspected diagnosis is made through ultrasound, but the definitive diagnosis will be given by the anatomo-pathological study. We present the case of a 30-year-old patient, IIG IP, who came at 30 weeks plus 4 days of gestation, who underwent an obstetric echosonogram showing a total occlusive central placenta with a large hydropic appearance, a transverse fetus with intrauterine growth restriction and later anhydramnios; for which obstetric resolution was decided by segmental cesarean section, obtaining a female newborn with a birth weight of 1,100 g and placenta with multiple vesicles, for which an anatomopathological study was carried out, that reported placental mesenchymal dysplasia.