The Cd-106(alpha,gamma)Sn-110 reaction cross section has been measured in the energy range of the Gamow window for the astrophysical p-process scenario. The cross sections for Cd-106(alpha,n)Sn-109 and for Cd-106(alpha,p)In-109 below the (alpha,n) threshold have also been determined. The results are compared with predictions of the statistical model code NON-SMOKER using different input parameters. The comparison shows that a discrepancy for Cd-106(alpha,gamma)Sn-110 when using the standard optical potentials can be removed with a different alpha + Cd-106 potential. Some astrophysical implications are discussed.