Aim: This study evaluated the proximity and relation of impacted lower third molars and mandibular canal on panoramic radiography. Methods: Radiographic signals associated with proximity of structures and Pell & Gregory and Winter classifications of 78 impacted teeth were analyzed and compared with CBCT images (gold standard). The associations between the findings were tested with Pearson’s chi-square. Results: Direct contact between structures was observed in 85% of cases of radiolucent band over roots. Conclusions: Radiolucent band over roots is the image more associated with direct contact between structures and the one that indicates lingual positioning of the canal more consistently. Some categories of Pell & Gregory and Winter classifications suggested signs of the topographic location of the mandibular canal.