The dwarf irregular galaxy Holmberg II (DDO 50) has been observed on 34 separate nights for the purpose of finding and photometering variable stars. Extensive analysis of the CCD frames obtained over 14 years has yielded a set of 28 candidate pulsating variable stars that are likely to be Cepheids. Further selection based on available colors defines a set of seven very likely Cepheids. Comparison of these data with the period-luminosity relation of Madore & Freedman for Magellanic Cloud Cepheids produces a distance modulus of m - M = 27.42, which corresponds to 3.05 Mpc. Observations obtained at Kitt Peak National Observatory, National Optical Astronomy Observatories, operated by the Association of Universities for Research in Astronomy (AURA), Inc., under cooperative agreement with the National Science Foundation. Observations obtained at the Palomar Observatory, California Institute of Technology. STScI is operated by AURA, Inc., under contract to the National Aeronautics and Space Administration.