<?xml version="1.0" encoding="us-ascii"?>
<!--XBRL document created by RR Donnelley IM Processor 6.0.0.0 using Fujitsu Interstage XWand-->
<schema targetNamespace="http://www.nicholasfunds.com/20130128" elementFormDefault="qualified" xmlns="http://www.w3.org/2001/XMLSchema" xmlns:nii1="http://www.nicholasfunds.com/20130128" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xbrli="http://www.xbrl.org/2003/instance" xmlns:nonnum="http://www.xbrl.org/dtr/type/non-numeric">
  <annotation>
    <appinfo>
      <link:linkbaseRef xlink:type="simple" xlink:href="nii1-20130128_pre.xml" xlink:title="Presentation Links, all" xlink:role="http://www.xbrl.org/2003/role/presentationLinkbaseRef" xlink:arcrole="http://www.w3.org/1999/xlink/properties/linkbase" />
      <link:linkbaseRef xlink:type="simple" xlink:href="nii1-20130128_cal.xml" xlink:title="Calculation Links, all" xlink:role="http://www.xbrl.org/2003/role/calculationLinkbaseRef" xlink:arcrole="http://www.w3.org/1999/xlink/properties/linkbase" />
      <link:linkbaseRef xlink:type="simple" xlink:href="nii1-20130128_def.xml" xlink:title="Definition Links, all" xlink:role="http://www.xbrl.org/2003/role/definitionLinkbaseRef" xlink:arcrole="http://www.w3.org/1999/xlink/properties/linkbase" />
      <link:linkbaseRef xlink:type="simple" xlink:href="nii1-20130128_lab.xml" xlink:title="Label Links, all" xlink:role="http://www.xbrl.org/2003/role/labelLinkbaseRef" xlink:arcrole="http://www.w3.org/1999/xlink/properties/linkbase" />
      <link:roleType roleURI="http://www.nicholasfunds.com/role/DocumentDocumentandEntityInformation" id="DocumentDocumentandEntityInformation">
        <link:definition>000000 - Document - Document and Entity Information</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.nicholasfunds.com/role/DocumentRiskReturnSummaryUnlabeledNICHOLASIIINCClassI" id="DocumentRiskReturnSummaryUnlabeledNICHOLASIIINCClassI">
        <link:definition>000011 - Document - Risk/Return Summary {Unlabeled} - NICHOLAS II INC Class I</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.nicholasfunds.com/role/ScheduleShareholderFeesNICHOLASIIINC" id="ScheduleShareholderFeesNICHOLASIIINC">
        <link:definition>000012 - Schedule - Shareholder Fees {- NICHOLAS II INC}</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.nicholasfunds.com/role/ScheduleAnnualFundOperatingExpensesNICHOLASIIINC" id="ScheduleAnnualFundOperatingExpensesNICHOLASIIINC">
        <link:definition>000013 - Schedule - Annual Fund Operating Expenses {- NICHOLAS II INC}</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.nicholasfunds.com/role/ScheduleExpenseExampleTransposedNICHOLASIIINC" id="ScheduleExpenseExampleTransposedNICHOLASIIINC">
        <link:definition>000014 - Schedule - Expense Example {Transposed} {- NICHOLAS II INC}</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.nicholasfunds.com/role/ScheduleExpenseExampleNoRedemptionTransposedNICHOLASIIINC" id="ScheduleExpenseExampleNoRedemptionTransposedNICHOLASIIINC">
        <link:definition>000015 - Schedule - Expense Example, No Redemption {Transposed} {- NICHOLAS II INC}</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.nicholasfunds.com/role/ScheduleAnnualTotalReturnsNICHOLASIIINCBarChart" id="ScheduleAnnualTotalReturnsNICHOLASIIINCBarChart">
        <link:definition>000016 - Schedule - Annual Total Returns - NICHOLAS II INC [BarChart]</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.nicholasfunds.com/role/ScheduleAverageAnnualTotalReturnsTransposedNICHOLASIIINC" id="ScheduleAverageAnnualTotalReturnsTransposedNICHOLASIIINC">
        <link:definition>000017 - Schedule - Average Annual Total Returns {Transposed} {- NICHOLAS II INC}</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.nicholasfunds.com/role/DocumentRiskReturnDetailUnlabeledNICHOLASIIINC" id="DocumentRiskReturnDetailUnlabeledNICHOLASIIINC">
        <link:definition>000018 - Document - Risk/Return Detail {Unlabeled} - NICHOLAS II INC</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.nicholasfunds.com/role/DisclosureRiskReturnDetailDataElementsNICHOLASIIINCClassI" id="DisclosureRiskReturnDetailDataElementsNICHOLASIIINCClassI">
        <link:definition>000019 - Disclosure - Risk/Return Detail Data {Elements} - NICHOLAS II INC Class I</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.nicholasfunds.com/role/DocumentRiskReturnSummaryUnlabeledNICHOLASIIINCClassN" id="DocumentRiskReturnSummaryUnlabeledNICHOLASIIINCClassN">
        <link:definition>000021 - Document - Risk/Return Summary {Unlabeled} - NICHOLAS II INC Class N</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.nicholasfunds.com/role/ScheduleShareholderFeesNICHOLASIIINCClassN" id="ScheduleShareholderFeesNICHOLASIIINCClassN">
        <link:definition>000022 - Schedule - Shareholder Fees {- NICHOLAS II INC Class N}</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.nicholasfunds.com/role/ScheduleAnnualFundOperatingExpensesNICHOLASIIINCClassN" id="ScheduleAnnualFundOperatingExpensesNICHOLASIIINCClassN">
        <link:definition>000023 - Schedule - Annual Fund Operating Expenses {- NICHOLAS II INC Class N}</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.nicholasfunds.com/role/ScheduleExpenseExampleTransposedNICHOLASIIINCClassN" id="ScheduleExpenseExampleTransposedNICHOLASIIINCClassN">
        <link:definition>000024 - Schedule - Expense Example {Transposed} {- NICHOLAS II INC Class N}</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.nicholasfunds.com/role/ScheduleExpenseExampleNoRedemptionTransposedNICHOLASIIINCClassN" id="ScheduleExpenseExampleNoRedemptionTransposedNICHOLASIIINCClassN">
        <link:definition>000025 - Schedule - Expense Example, No Redemption {Transposed} {- NICHOLAS II INC Class N}</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.nicholasfunds.com/role/ScheduleAnnualTotalReturnsNICHOLASIIINCClassNBarChart" id="ScheduleAnnualTotalReturnsNICHOLASIIINCClassNBarChart">
        <link:definition>000026 - Schedule - Annual Total Returns - NICHOLAS II INC Class N [BarChart]</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.nicholasfunds.com/role/ScheduleAverageAnnualTotalReturnsTransposedNICHOLASIIINCClassN" id="ScheduleAverageAnnualTotalReturnsTransposedNICHOLASIIINCClassN">
        <link:definition>000027 - Schedule - Average Annual Total Returns {Transposed} {- NICHOLAS II INC Class N}</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.nicholasfunds.com/role/DocumentRiskReturnDetailUnlabeledNICHOLASIIINCClassN" id="DocumentRiskReturnDetailUnlabeledNICHOLASIIINCClassN">
        <link:definition>000028 - Document - Risk/Return Detail {Unlabeled} - NICHOLAS II INC Class N</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.nicholasfunds.com/role/DisclosureRiskReturnDetailDataElementsNICHOLASIIINCClassN" id="DisclosureRiskReturnDetailDataElementsNICHOLASIIINCClassN">
        <link:definition>000029 - Disclosure - Risk/Return Detail Data {Elements} - NICHOLAS II INC Class N</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
    </appinfo>
  </annotation>
  <import namespace="http://www.xbrl.org/2003/instance" schemaLocation="http://www.xbrl.org/2003/xbrl-instance-2003-12-31.xsd" />
  <import namespace="http://www.xbrl.org/2003/linkbase" schemaLocation="http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd" />
  <import namespace="http://xbrl.sec.gov/dei/2012-01-31" schemaLocation="http://xbrl.sec.gov/dei/2012/dei-2012-01-31.xsd" />
  <import namespace="http://xbrl.sec.gov/rr/2012-01-31" schemaLocation="http://xbrl.sec.gov/rr/2012/rr-2012-01-31.xsd" />
  <import namespace="http://www.xbrl.org/dtr/type/non-numeric" schemaLocation="http://www.xbrl.org/dtr/type/nonNumeric-2009-12-16.xsd" />
  <element name="ClassIMember" id="nii1_ClassIMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <element name="S000009134Member" id="nii1_S000009134Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration" />
  <element name="C000075508Member" id="nii1_C000075508Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration" />
  <element name="C000075509Member" id="nii1_C000075509Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration" />
  <element name="C000024843Member" id="nii1_C000024843Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration" />
  <element name="RussellMidcapGrowthIndexMember" id="nii1_RussellMidcapGrowthIndexMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration" />
  <element name="RussellMidcapIndexMember" id="nii1_RussellMidcapIndexMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration" />
  <element name="MorningstarMidCapGrowthCategoryMember" id="nii1_MorningstarMidCapGrowthCategoryMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration" />
  <element name="ClassNMember" id="nii1_ClassNMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration" />
  <element name="C000024844Member" id="nii1_C000024844Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:periodType="duration" />
</schema>
