Panic disorder (PD) is an anxiety disorder that is highly disruptive to the patient's life and needs new options for effective treatments. In this case report, we present an application of repetitive transcranial magnetic stimulation (rTMS) in a refractory patient resistant to cognitive behavior therapy (CBT) and pharmacotherapy who was treated with a combined protocol of rTMS with a sequential stimulation of right and left dorsolateral prefrontal cortex (DLPFC). The protocol was conducted 3 times per week during 4 weeks, with one month follow-up. The fact that the patient showed improvement suggests that rTMS can be an effective option of treatment.