485BPOS

As filed with the Securities and Exchange Commission on  May 1 , 201 3

File No. 2-86337

File No. 811-03835

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
	FORM N-1A
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933		x
Pre-Effective Amendment No.		o
Post-Effective Amendment No. 35		x
and/or
REGISTRATION STATEMENT UNDER THE
INVESTMENT COMPANY ACT OF 1940		x
Amendment No. 35		x
Value Line Centurion Fund, Inc.
(Exact Name of Registrant as Specified in Charter)
7 Times Square, 21st Floor
New York, New York 10036-6524
(Address of Principal Executive Offices) (Zip Code)
Registrant’s Telephone Number, Including Area Code: (212) 907-1900
Mitchell E. Appel
Value Line Centurion Fund, Inc.
7 Times Square, 21st Floor
New York, New York 10036-6524
(Name and Address of Agent for Service)
Copy to:
Peter D. Lowenstein, Esq.
496 Valley Road
Cos Cob, CT 06807

It is proposed that this filing will become effective (check appropriate box)

x immediately upon filing pursuant to paragraph (b)

o on (date) pursuant to paragraph (b)

o 60 days after filing pursuant to paragraph (a)(1)

o 75 days after filing pursuant to paragraph (a)(2)

o on (date) pursuant to paragraph (a)(1)

o on (date) pursuant to paragraph (a)(2) of Rule 485

SIGNATURES

          Pursuant to the requirements of the Securities Act of 1933 and the Investment Company Act of 1940, the Registrant certifies that it meets all of the requirements for effectiveness of this Registration Statement pursuant to Rule 485(b) under the Securities Act of 1933 and has duly caused this Amendment to its Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of New York, and State of New York, on the 1st day of May , 201 3 .

VALUE LINE CENTURION FUND, INC.
By:	/s/ Mitchell E. Appel
	Mitchell E. Appel, President and Chief Executive Officer

  Pursuant to the requirements of the Securities Act of 1933, this Amendment has been signed below by the following persons in the capacities and on the dates indicated.

				Signatures		Title		Date
		*	Joyce E. Heinzerling		Director		May 1 , 201 3
			(Joyce E. Heinzerling)
		*	Francis C. Oakley		Director		May 1 , 201 3
			(Francis C. Oakley)
		*	David H. Porter		Director		May 1 , 201 3
			(David H. Porter)
		*	Paul Craig Roberts		Director		May 1 , 201 3
			(Paul Craig Roberts)
		*	Nancy-Beth Sheerr		Director		May 1 , 201 3
			(Nancy-Beth Sheerr)
		*	Daniel S. Vandivort		Director		May 1 , 201 3
			(Daniel S. Vandivort)
	/s/ Mitchell E. Appel				Director; President and Chief Executive		May 1 , 201 3
	(Mitchell E. Appel)				Officer (Principal Executive Officer)
	/s/ Emily D. Washington				Treasurer; Principal Financial		May 1 , 201 3
	(Emily D. Washington)				and Accounting Officer; Secretary
*By:	/s/ Mitchell E. Appel
	(Mitchell E. Appel, attorney-in-fact)

*Pursuant to Power of attorney filed as an exhibit to Post. Effective Amendment no. 30, and incorporated herein by reference.

EXHIBIT INDEX

Exhibit No.	Exhibit
EX-101.INS	XBRL INSTANCE DOCUMENT
EX-101.SCH	XBRL TAXONOMY EXTENSION SCHEMA DOCUMENT
EX-101.CAL	XBRL TAXONOMY EXTENSION CALCULATION LINKBASE
EX-101.DEF	XBRL TAXONOMY EXTENSION DEFINITION LINKBASE
EX-101.LAB	XBRL TAXONOMY EXTENSION LABELS LINKBASE
EX-101.PRE	XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE

XML

Label

Element

Value

Risk/Return:

rr_RiskReturnAbstract

Document Type

dei_DocumentType

485BPOS

Document Period End Date

dei_DocumentPeriodEndDate

Dec. 31, 2012

Registrant Name

dei_EntityRegistrantName

VALUE LINE CENTURION FUND INC

Central Index Key

dei_EntityCentralIndexKey

0000726994

Amendment Flag

dei_AmendmentFlag

false

Document Creation Date

dei_DocumentCreationDate

May 01, 2013

Document Effective Date

dei_DocumentEffectiveDate

May 01, 2013

Prospectus Date

rr_ProspectusDate

May 01, 2013

VALUE LINE CENTURION FUND INC

Risk/Return:

rr_RiskReturnAbstract

Risk/Return [Heading]

rr_RiskReturnHeading

Value Line Centurion Fund, Inc.

Objective [Heading]

rr_ObjectiveHeading

Investment objective

Objective, Primary [Text Block]

rr_ObjectivePrimaryTextBlock

The Fund’s investment objective is long-term growth of capital.

Expense [Heading]

rr_ExpenseHeading

Fees and expenses

Expense Narrative [Text Block]

rr_ExpenseNarrativeTextBlock

This table describes the fees and expenses you pay in connection with an investment in the Fund. It does not take into account any fees or other expenses of any variable annuity or variable life insurance product. If such fees were reflected, expenses would be higher.

Operating Expenses Caption [Text]

rr_OperatingExpensesCaption

Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment.)

Portfolio Turnover [Heading]

rr_PortfolioTurnoverHeading

Portfolio turnover

Portfolio Turnover [Text Block]

rr_PortfolioTurnoverTextBlock

The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year the Fund’s portfolio turnover rate was 11% of the average value of its portfolio.

Portfolio Turnover, Rate

rr_PortfolioTurnoverRate

11.00%

Expense Example [Heading]

rr_ExpenseExampleHeading

Example

Expense Example Narrative [Text Block]

rr_ExpenseExampleNarrativeTextBlock

This example is intended to help you compare the cost of investing in the Fund to the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated whether or not you redeem all of your shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same except in year one. Although your actual costs may be higher or lower, based on these assumptions your costs would be:

Strategy [Heading]

rr_StrategyHeading

Principal investment strategies

Strategy Narrative [Text Block]

rr_StrategyNarrativeTextBlock

To achieve the Fund’s goal, EULAV Asset Management (the “Adviser”) invests substantially all of the Fund’s net assets in common stocks. While the Fund is actively managed by the Adviser, the Adviser relies primarily on the rankings of companies by the Value Line Timeliness™ Ranking System (the “Ranking System”) in selecting securities for purchase or sale. The Ranking System is a proprietary quantitative system that compares an estimate of the probable market performance of each stock within a universe during the next six to twelve months to that of all stocks within that universe and ranks stocks on a scale of 1 (highest) to 5 (lowest). The universe followed by the Ranking System consists of stocks of approximately 1,700 companies accounting for approximately 95% of the market capitalization of all stocks traded on the U.S. securities exchanges. All the stocks followed by the Ranking System are listed on U.S. stock exchanges or traded in the U.S. over-the-counter markets. The Fund’s investments principally are selected from common stocks ranked 1, 2 or 3 by the Ranking System at the time of purchase. Apart from the diversification requirements of the Investment Company Act of 1940 (the “1940 Act”) applicable to diversified funds (which generally means that it will not invest more than 5% of its total assets in the stocks of any one company), the Fund is not subject to any limit on the percentage of its assets that may be invested in any particular stock. Because the Adviser relies on the Ranking System in managing the Fund’s portfolio, the Fund is not limited to investments according to a company’s size.

The Adviser may sell securities for a variety of reasons, such as to secure gains, limit losses or redeploy assets into more promising opportunities.

As described above, the Adviser relies primarily on the rankings of companies by the Ranking System (“Timeliness Rankings”) in selecting stocks for the Fund, but has discretion, including whether and which ranked stocks to include within the Fund’s portfolio, whether and when to buy or sell stocks based upon changes in their rankings, and the frequency and timing of rebalancing the Fund’s portfolio. The Adviser will determine the percentage of the Fund’s assets invested in each stock based on the stock’s relative attractiveness.

Strategy Portfolio Concentration [Text]

rr_StrategyPortfolioConcentration

To achieve the Fund’s goal, EULAV Asset Management (the “Adviser”) invests substantially all of the Fund’s net assets in common stocks. While the Fund is actively managed by the Adviser, the Adviser relies primarily on the rankings of companies by the Value Line Timeliness™ Ranking System (the “Ranking System”) in selecting securities for purchase or sale. The Ranking System is a proprietary quantitative system that compares an estimate of the probable market performance of each stock within a universe during the next six to twelve months to that of all stocks within that universe and ranks stocks on a scale of 1 (highest) to 5 (lowest). The universe followed by the Ranking System consists of stocks of approximately 1,700 companies accounting for approximately 95% of the market capitalization of all stocks traded on the U.S. securities exchanges. All the stocks followed by the Ranking System are listed on U.S. stock exchanges or traded in the U.S. over-the-counter markets. The Fund’s investments principally are selected from common stocks ranked 1, 2 or 3 by the Ranking System at the time of purchase.

Risk [Heading]

rr_RiskHeading

Principal risks of investing in the Fund

Risk Narrative [Text Block]

rr_RiskNarrativeTextBlock

Investing in any mutual fund involves risk, including the risk that you may receive little or no return on your investment, and that you may lose part or all of your investment. Therefore, before you invest in this Fund you should carefully evaluate the risks.

The chief risk that you assume when investing in the Fund is market risk, which is the possibility that the securities in a certain market will decline in value because of factors such as economic conditions. Market risk may affect a single issuer, an industry, a sector of the economy or the market as a whole.

Certain securities may be difficult or impossible to sell at the time and price that the Fund would like. The Fund may have to lower the price, sell other securities instead or forego an investment opportunity. This could have a negative effect on the Fund’s performance.

Because the Fund is actively managed, its investment return depends on the ability of the Adviser to manage its portfolio successfully. The Adviser’s investment strategies may not be able to produce the desired results.

The Fund’s annual portfolio turnover rate has exceeded 100% in four of the last five years. A rate of portfolio turnover of 100% would occur if all of the Fund’s portfolio were replaced in a period of one year. To the extent the Fund engages in short - term trading in attempting to acheive its investment objective, it will increase the Fund’s portfolio turnover rate and the Fund will incur higher brokerage commissions and other expenses.

An investment in the Fund is not a complete investment program and you should consider it just one part of your total investment program. An investment in the Fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other governmental agency. For a more complete discussion of risk, please turn to page 9.

Because the Fund uses the Ranking System, there is the risk that securities not covered by the Ranking System or lower rated securities will appreciate to a greater extent than those securities in the Fund’s portfolio.

The price of Fund shares will increase and decrease according to changes in the value of the Fund’s investments. The Fund will be affected by changes in stock prices, which have historically tended to fluctuate more than bond prices.

Risk Lose Money [Text]

rr_RiskLoseMoney

Investing in any mutual fund involves risk, including the risk that you may receive little or no return on your investment, and that you may lose part or all of your investment.

Risk Not Insured Depository Institution [Text]

rr_RiskNotInsuredDepositoryInstitution

An investment in the Fund is not a complete investment program and you should consider it just one part of your total investment program. An investment in the Fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other governmental agency.

Bar Chart and Performance Table [Heading]

rr_BarChartAndPerformanceTableHeading

Fund performance

Performance Narrative [Text Block]

rr_PerformanceNarrativeTextBlock

This bar chart and table can help you evaluate the potential risks of investing in the Fund. The bar chart below shows how returns for the Fund’s shares have varied over the past ten calendar years, and the table below shows the average annual total returns of these shares for one, five, and ten years. These returns are compared to the performance of the S&P 500® Index, which is a broad based market index. This performance information does not reflect separate account or variable insurance contract fees or charges. If such fees and charges were reflected, the Fund’s returns would be less than those shown. All returns reflect reinvested dividends. The Fund’s past performance is not necessarily an indication of how it will perform in the future.

Performance Information Illustrates Variability of Returns [Text]

rr_PerformanceInformationIllustratesVariabilityOfReturns

This bar chart and table can help you evaluate the potential risks of investing in the Fund. The bar chart below shows how returns for the Fund’s shares have varied over the past ten calendar years, and the table below shows the average annual total returns of these shares for one, five, and ten years.

Performance Past Does Not Indicate Future [Text]

rr_PerformancePastDoesNotIndicateFuture

The Fund’s past performance is not necessarily an indication of how it will perform in the future.

Bar Chart [Heading]

rr_BarChartHeading

Total returns as of 12/31 each year (%)

Bar Chart Closing [Text Block]

rr_BarChartClosingTextBlock

Best Quarter:	Q3 2010	+12.86%
Worst Quarter:	Q4 2008	–27.42%

Highest Quarterly Return, Label

rr_HighestQuarterlyReturnLabel

Best Quarter:

Highest Quarterly Return, Date

rr_BarChartHighestQuarterlyReturnDate

Sep. 30, 2010

Highest Quarterly Return

rr_BarChartHighestQuarterlyReturn

12.86%

Lowest Quarterly Return, Label

rr_LowestQuarterlyReturnLabel

Worst Quarter:

Lowest Quarterly Return, Date

rr_BarChartLowestQuarterlyReturnDate

Dec. 31, 2008

Lowest Quarterly Return

rr_BarChartLowestQuarterlyReturn

(27.42%)

Performance Table Heading

rr_PerformanceTableHeading

Average Annual Total Returns for Periods Ended December 31, 2012

VALUE LINE CENTURION FUND INC | C000020631 VALUE LINE CENTURION FUND INC

Risk/Return:

rr_RiskReturnAbstract

Trading Symbol

dei_TradingSymbol

VLCF

Management Fees

rr_ManagementFeesOverAssets

0.50%

Distribution and Service (12b-1) Fees

rr_DistributionAndService12b1FeesOverAssets

0.40%

Other Expenses

rr_OtherExpensesOverAssets

0.16%

Total Annual Fund Operating Expenses

rr_ExpensesOverAssets

1.06%

Less: 12b-1 fee waiver

rr_FeeWaiverOrReimbursementOverAssets

(0.15%)

^[1]

Net Expenses

rr_NetExpensesOverAssets

0.91%

1 year

rr_ExpenseExampleYear01

93

3 years

rr_ExpenseExampleYear03

322

5 years

rr_ExpenseExampleYear05

570

10 years

rr_ExpenseExampleYear10

1,281

2003

rr_AnnualReturn2003

19.49%

2004

rr_AnnualReturn2004

11.51%

2005

rr_AnnualReturn2005

9.13%

2006

rr_AnnualReturn2006

3.85%

2007

rr_AnnualReturn2007

20.72%

2008

rr_AnnualReturn2008

(49.27%)

2009

rr_AnnualReturn2009

11.09%

2010

rr_AnnualReturn2010

25.75%

2011

rr_AnnualReturn2011

5.02%

2012

rr_AnnualReturn2012

15.29%

Label

rr_AverageAnnualReturnLabel

Value Line Centurion Fund

1 year

rr_AverageAnnualReturnYear01

15.29%

5 years

rr_AverageAnnualReturnYear05

(2.99%)

10 years

rr_AverageAnnualReturnYear10

4.59%

VALUE LINE CENTURION FUND INC | S&P 500® Index

Risk/Return:

rr_RiskReturnAbstract

Index No Deduction for Fees, Expenses, Taxes [Text]

rr_IndexNoDeductionForFeesExpensesTaxes

(reflects no deduction for fees or expenses)

Label

rr_AverageAnnualReturnLabel

S&P 500® Index (reflects no deduction for fees or expenses)

1 year

rr_AverageAnnualReturnYear01

16.00%

5 years

rr_AverageAnnualReturnYear05

1.66%

10 years

rr_AverageAnnualReturnYear10

7.10%

[1] Effective May 1, 2013 through June 30, 2014, EULAV Securities LLC (the "Distributor") has contractually agreed to waive a portion of the Fund's 12b-1 fee in an amount equal to 0.15% of the Fund's average daily net assets. There is no assurance that the Distributor will extend the fee waiver beyond June 30, 2014. The waiver cannot be modified or terminated before June 30, 2014 without the approval of the Fund's Board of Directors.

XML

VALUE LINE CENTURION FUND INC

Value Line Centurion Fund, Inc.

Investment objective

The Fund’s investment objective is long-term growth of capital.

Fees and expenses

This table describes the fees and expenses you pay in connection with an investment in the Fund. It does not take into account any fees or other expenses of any variable annuity or variable life insurance product. If such fees were reflected, expenses would be higher.

Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment.)

Annual Fund Operating Expenses		VALUE LINE CENTURION FUND INC C000020631 VALUE LINE CENTURION FUND INC
Management Fees		0.50%
Distribution and Service (12b-1) Fees		0.40%
Other Expenses		0.16%
Total Annual Fund Operating Expenses		1.06%
Less: 12b-1 fee waiver	[1]	(0.15%)
Net Expenses		0.91%

Example

This example is intended to help you compare the cost of investing in the Fund to the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated whether or not you redeem all of your shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same except in year one. Although your actual costs may be higher or lower, based on these assumptions your costs would be:

Expense Example (USD $)	1 year	3 years	5 years	10 years
VALUE LINE CENTURION FUND INC C000020631 VALUE LINE CENTURION FUND INC	93	322	570	1,281

Portfolio turnover

The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year the Fund’s portfolio turnover rate was 11% of the average value of its portfolio.

Principal investment strategies

To achieve the Fund’s goal, EULAV Asset Management (the “Adviser”) invests substantially all of the Fund’s net assets in common stocks. While the Fund is actively managed by the Adviser, the Adviser relies primarily on the rankings of companies by the Value Line Timeliness™ Ranking System (the “Ranking System”) in selecting securities for purchase or sale. The Ranking System is a proprietary quantitative system that compares an estimate of the probable market performance of each stock within a universe during the next six to twelve months to that of all stocks within that universe and ranks stocks on a scale of 1 (highest) to 5 (lowest). The universe followed by the Ranking System consists of stocks of approximately 1,700 companies accounting for approximately 95% of the market capitalization of all stocks traded on the U.S. securities exchanges. All the stocks followed by the Ranking System are listed on U.S. stock exchanges or traded in the U.S. over-the-counter markets. The Fund’s investments principally are selected from common stocks ranked 1, 2 or 3 by the Ranking System at the time of purchase. Apart from the diversification requirements of the Investment Company Act of 1940 (the “1940 Act”) applicable to diversified funds (which generally means that it will not invest more than 5% of its total assets in the stocks of any one company), the Fund is not subject to any limit on the percentage of its assets that may be invested in any particular stock. Because the Adviser relies on the Ranking System in managing the Fund’s portfolio, the Fund is not limited to investments according to a company’s size.

The Adviser may sell securities for a variety of reasons, such as to secure gains, limit losses or redeploy assets into more promising opportunities.

As described above, the Adviser relies primarily on the rankings of companies by the Ranking System (“Timeliness Rankings”) in selecting stocks for the Fund, but has discretion, including whether and which ranked stocks to include within the Fund’s portfolio, whether and when to buy or sell stocks based upon changes in their rankings, and the frequency and timing of rebalancing the Fund’s portfolio. The Adviser will determine the percentage of the Fund’s assets invested in each stock based on the stock’s relative attractiveness.

Principal risks of investing in the Fund

Investing in any mutual fund involves risk, including the risk that you may receive little or no return on your investment, and that you may lose part or all of your investment. Therefore, before you invest in this Fund you should carefully evaluate the risks.

The chief risk that you assume when investing in the Fund is market risk, which is the possibility that the securities in a certain market will decline in value because of factors such as economic conditions. Market risk may affect a single issuer, an industry, a sector of the economy or the market as a whole.

Certain securities may be difficult or impossible to sell at the time and price that the Fund would like. The Fund may have to lower the price, sell other securities instead or forego an investment opportunity. This could have a negative effect on the Fund’s performance.

Because the Fund is actively managed, its investment return depends on the ability of the Adviser to manage its portfolio successfully. The Adviser’s investment strategies may not be able to produce the desired results.

The Fund’s annual portfolio turnover rate has exceeded 100% in four of the last five years. A rate of portfolio turnover of 100% would occur if all of the Fund’s portfolio were replaced in a period of one year. To the extent the Fund engages in short - term trading in attempting to acheive its investment objective, it will increase the Fund’s portfolio turnover rate and the Fund will incur higher brokerage commissions and other expenses.

An investment in the Fund is not a complete investment program and you should consider it just one part of your total investment program. An investment in the Fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other governmental agency. For a more complete discussion of risk, please turn to page 9.

Because the Fund uses the Ranking System, there is the risk that securities not covered by the Ranking System or lower rated securities will appreciate to a greater extent than those securities in the Fund’s portfolio.

The price of Fund shares will increase and decrease according to changes in the value of the Fund’s investments. The Fund will be affected by changes in stock prices, which have historically tended to fluctuate more than bond prices.

Fund performance

This bar chart and table can help you evaluate the potential risks of investing in the Fund. The bar chart below shows how returns for the Fund’s shares have varied over the past ten calendar years, and the table below shows the average annual total returns of these shares for one, five, and ten years. These returns are compared to the performance of the S&P 500® Index, which is a broad based market index. This performance information does not reflect separate account or variable insurance contract fees or charges. If such fees and charges were reflected, the Fund’s returns would be less than those shown. All returns reflect reinvested dividends. The Fund’s past performance is not necessarily an indication of how it will perform in the future.

Total returns as of 12/31 each year (%)

Best Quarter:	Q3 2010	+12.86%
Worst Quarter:	Q4 2008	–27.42%

Average Annual Total Returns for Periods Ended December 31, 2012

Average Annual Total Returns VALUE LINE CENTURION FUND INC

Label

1 year

5 years

10 years

C000020631 VALUE LINE CENTURION FUND INC

Value Line Centurion Fund

15.29%

(2.99%)

4.59%

S&P 500® Index

S&P 500® Index (reflects no deduction for fees or expenses)

16.00%

1.66%

7.10%

[1] Effective May 1, 2013 through June 30, 2014, EULAV Securities LLC (the "Distributor") has contractually agreed to waive a portion of the Fund's 12b-1 fee in an amount equal to 0.15% of the Fund's average daily net assets. There is no assurance that the Distributor will extend the fee waiver beyond June 30, 2014. The waiver cannot be modified or terminated before June 30, 2014 without the approval of the Fund's Board of Directors.