The low-mass X-ray binary ( LMXB ) system FIRST J102347.6 + 003841 hosts a newly born millisecond pulsar ( MSP ) PSR J1023 + 0038 that was revealed as the first and only known rotation-powered MSP in a quiescent LMXB . While the system is shown to have an accretion disk before 2002 , it remains unclear how the accretion disk has been removed in order to reveal the radio pulsation in 2007 . In this Letter , we report the discovery of \gamma -rays spatially consistent with FIRST J102347.6 + 003841 , at a significance of 7 standard deviations , using data obtained by the Fermi Gamma-ray Space Telescope . The \gamma -ray spectrum can be described by a power law ( PL ) with a photon index of 2.9 \pm 0.2 , resulting in an energy flux above 200 MeV of ( 5.5 \pm 0.9 ) \times 10 ^ { -12 } \mathrm { erg } \mathrm { cm } ^ { -2 } \mathrm { s } ^ { -1 } . The \gamma -rays likely originate from the MSP PSR J1023 + 0038 , but also possibly from an intrabinary shock between the pulsar and its companion star . To complement the \gamma -ray study , we also re-investigate the XMM-Newton data taken in 2004 and 2008 . Our X-ray spectral analysis suggests that a broken PL with two distinct photon indices describes the X-ray data significantly better than a single PL . This indicates that there exists two components and that both components appear to vary with the orbital phase . The evidence for \gamma -ray emission conforms with a recent suggestion that \gamma -rays from PSR J1023 + 0038 may be responsible for ejecting the disk material out of the system .