On Earth, impact structures are rare in intertropical zones. Here we evaluate the 35-40 km diameter Velingara depression in Senegal as a candidate impact structure. The depression has a topographic relief of only 50 m and is essentially buried under modern sediments. For the first time, potential-field ground observations and a microstructural survey of detrital zircons for shock features were conducted at Velingara. A 15 mGal gravity low in a 10 km diameter central anomaly was found, while significant (100 nT) amplitude magnetic field anomalies were observed in the depression. Forward modeling was used to explain the crustal sources of the anomalies, arguing in favor of the presence of a buried impact structure. An electron backscatter diffraction survey of circa 5,000 detrital zircons from a sample of modern alluvium identified a single granular zircon; orientation data for the grain does not record the former presence of reidite, but does closely resemble grains with highly dispersed neoblast orientations that have only been reported from impact settings. Age determination by LA-ICP-MS indicates the unusual granular zircon recorded an age of ca. 550 Ma. Results of the geophysical data and zircon microstructural survey reported here are consistent with, but do not yet prove, an impact origin hypothesis for the Velingara structure. The difference in amplitude between the diameter of the depression, and that of the gravity anomaly remains puzzling. Several impact scenarios are considered, which include the subsequent evolution via surface processes of a 10-km crater into a larger depression, or a large-scale (d = 40 km) complex impact crater with a peculiar geophysical anomaly limited to its central region.