We report the discovery of an ultrahigh-energy (UHE) gamma-ray source, LHAASO J2108+5157, by analyzing the LHAASO-KM2A data of 308.33 live days. A significant excess of gamma ray-induced showers is observed in both energy bands of 25-100 and >100 TeV with 9.5 sigma and 8.5 sigma, respectively. This source is not significantly favored as an extended source with an angular extension smaller than the point-spread function of KM2A. The measured energy spectrum from 20 to 200 TeV can be approximately described by a power-law function with an index of -2.83 +/- 0.18(stat). A harder spectrum is demanded at lower energies considering the flux upper limit set by Fermi-LAT observations. The position of the gamma-ray emission is correlated with a giant molecular cloud, which favors a hadronic origin. No obvious counterparts have been found, and deeper multiwavelength observations will help to cast new light on this intriguing UHE source.