In this paper we present Morphy, an integrated tool for German morphology, part-of-speech tagging and context-sensitive lemmatization. Its large lexicon of more than 320,000 word forms plus its ability to process German compound nouns guarantee a wide morphological coverage. Syntactic ambiguities can be resolved with a standard statistical part-of-speech tagger. By using the output of the tagger, the lemmatizer can determine the correct root even for ambiguous word forms. The complete package is freely available and can be downloaded from the World Wide Web.