Instability of the proximal tibiofibular joint is an uncommon problem, which may occur in multiple directions and because of multiple etiologies. Proximal tibiofibular joint instability can be divided into 3 types: acute traumatic dislocations, chronic or recurrent dislocation, and atraumatic subluxations. Instability of this joint may be in the anterolateral, posteromedial, or superior directions. Chronic instability results in lateral knee pain and instability with snapping or catching often leading to a misdiagnosis of lateral meniscal injury. Subluxation may be treated nonsurgically with activity modification, supportive straps, and knee strengthening therapy. Chronic pain or instability is an indication for surgical treatment including arthrodesis, fibular head resection, or soft tissue ligamentous reconstruction. The article describes the use of a new technique for reconstruction using the iliotibial band and a biceps femoris longhead autograft.