Inclusion Criteria:

- Patients newly diagnosed as HCC according to European Association for Study of the
Liver criteria.

- BCLC stage B

- Child-Pugh class A or B (Child-Pugh score 7)

- ECOG performance status of 0

- Patients must have at least one tumor lesion that meets both of the following
criteria:

- The lesion can be accurately measured in at least one dimension according to
RECIST criteria

- The lesion has not been previously treated with surgery, radiation therapy,
radiofrequency ablation, percutaneous ethanol or acetic acid injection, or
cryoablation.

- Patients who have received previous local therapy treatments (RFA, PEI,
cryoablation, surgery, resection) to non-target lesions are eligible

- Local therapy must have been completed at least 4 weeks prior to baseline scan.

- Haematology:Absolute neutrophil count (ANC) > 1 x 109/L, Platelet count > 40 x 109/L,
Haemoglobin > 9 g/dL (may be transfused to maintain or exceed this level) Prothrombin
time international normalized ratio < 1.5

- Biochemistry:Total bilirubin < 2 mg/dL Serum creatinine < 1.5 x the upper limit of
normal

- Ability to understand the protocol and to agree to and sign a written informed
consent document

Exclusion Criteria:

- Tumor factors

- Presence of extrahepatic metastasis

- Predominantly infiltrative lesion

- Diffuse tumor morphology with extensive lesions involving both lobes.

- Vascular complications

- Hepatic artery thrombosis, or

- Partial or complete thrombosis of the main portal vein, or

- Tumor invasion of portal branch of contralateral lobe, or

- Hepatic vein tumor thrombus, or

- Significant arterioportal shunt not amenable to shunt blockage

- Liver function

- Advanced liver disease: ascites, hepatic encephalopathy

- Patients with clinically significant gastrointestinal bleeding within the 30
days prior to study entry.

- Others

- Renal failure requiring hemo- or peritoneal dialysis

- Pregnant or lactating women.

- Active sepsis or bleeding.

- Hypersensitivity to intravenous contrast agents.

- The patient has received prior treatment for HCC target lesion.

- History of cardiac disease

- Congestive heart failure > NYHA class 2; active coronary artery disease

- Cardiac arrhythmias requiring anti-arrhythmic therapy other than beta
blockers or digoxin.

- Hypertension defined as systolic blood pressure > 150 mmHg or diastolic pressure
> 90 mmHg despite optimal medical management.

- Serious non-healing wounds (including wounds healing by secondary intention),
acute or non-healing ulcers, or bone fractures within 3 months.

- The patient is, in the opinion of the investigator, unable and / or unwilling to
comply with treatment and study instructions.

- Substance abuse (current), psychological, or social conditions that may
interfere with the patient's participation in the study or evaluation of the
study results.

- Any active clinically serious infections (> grade 2 NCI-CTCAE ver 3.0)

- HIV infection or AIDS-related illness or serious acute or chronic illness (based
on medical history)