A comparative study of the leaves of 31 species of Lycopodium was made. The pattern of tracheids varies with the species. Usually they exhibit annular, helical, reticulate, modified or transition forms; none of the species have advanced phylogenetically beyond the scalariform tracheid stage. Mucilage canals have been found in four species. Tracheids are enclosed by a few to several layers of oblique ended, elongated parenchyma cells in most species, but an endodermis is absent. Vascular bundles are encircled by fiber cells in three species. The mesophyll of most species consists of identically shaped cells, although palisade‐like tissue has been observed in a few species. The epidermal cells vary from elongated to isodiametric and have either undulated or smooth anticlinal walls, which are deeply pitted in some species. The outer epidermal walls are usually thick and heavily cutinized. Stomates are distributed on both surfaces in 18 species, on the abaxial surface in 11 species, and on the adaxial side in only two species. Most stomates are practically isodiametric in surface view, broader than epidermal cells, usually parallel to the vein, and at the same level as the adjacent epidermal cell. A typical guard cell has a prominent outer ledge and a less developed inner ledge of cutin in most species. Six groupings are suggested, based on similarity of leaf structure and the known chromosome numbers.