The global linear stability of steady axisymmetric flow through a model fusiform aneurysm is studied numerically. The aneurysm is modelled as a Gaussian-shaped inflation on a vessel of circular cross-section. The fluid is assumed to be Newtonian, and the flow far upstream and downstream of the inflation is a Hagen–Poiseuille flow. The model aneurysm is characterized by a maximum height H and width W, non-dimensionalized by the upstream vessel diameter, and the steady flow is characterized by the Reynolds number of the upstream flow. The base flow through the model aneurysms is determined for non-dimensional heights and widths in the physiologically relevant ranges 0.1<=H<=1.0 and 0.25<=W<=2.0, and for Reynolds numbers up to 7000, corresponding to peak values recorded during pulsatile flows under physiological conditions. It is found that the base flow consists of a core of relatively fast-moving fluid, surrounded by a slowly recirculating fluid that fills the inflation; for larger values of the ratio H/W, a secondary recirculation region is observed. The wall shear stress (WSS) in the inflation is vanishingly small compared to the WSS in the straight vessels. The global linear stability of the base flows is analysed by determining the eigenfrequencies of a modal representation of small-amplitude perturbations and by looking at the energy transfer between the base flow and the perturbations. Relatively shallow aneurysms (of relatively large width) become unstable by the lift-up mechanism and have a perturbation flow which is characterized by stationary, growing modes. More localized aneurysms (with relatively small width) become unstable at larger Reynolds numbers, presumably by an elliptic instability mechanism; in this case the perturbation flow is characterized by oscillatory modes.