A lift arrangement for a marine engine permits the output shaft of the engine to be vertically oriented when lifting the engine. The engine configuration results in a center of gravity located along a vertical axis which passes through a flywheel assembly of the engine. The flywheel assembly sits above an upper end of the engine block. The lift arrangement includes a pair of hangers mounted to the top end of the engine with the flywheel assembly positioned generally therebetween. The hangers are attached on opposite sides of a central, longitudinal plane of the engine. The hangers also are arranged such that a line between the hangers intersects the central, longitudinal plane at a point proximate to the vertical axis which passes through the center of gravity of said engine. With a cable connected to each hanger, the engine can hang by the cable from a lift with its output shaft vertically oriented, without removing or interfering with the flywheel assembly.