We report the discovery of HAT-P-38b, a Saturn-mass exoplanet transiting the V=12.56 dwarf star GSC 2314-00559 on a P = 4.6404 d circular orbit. The host star is a 0.89Msun late G-dwarf, with solar metallicity, and a radius of 0.92Rsun. The planetary companion has a mass of 0.27MJ, and radius of 0.82RJ. HAT-P-38b is one of the closest planets in mass and radius to Saturn ever discovered.