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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 BGT3fWWaolh/uUP+hq06xaV83fgJ64y6gdJI+Baepa+m9ADPOUVR9+FyzJUkmEVx
 n9yfAJgSw5370m8isLPUNQ==

<SEC-DOCUMENT>0001140361-10-013856.txt : 20100326
<SEC-HEADER>0001140361-10-013856.hdr.sgml : 20100326
<ACCEPTANCE-DATETIME>20100326181320
ACCESSION NUMBER:		0001140361-10-013856
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20100324
FILED AS OF DATE:		20100326
DATE AS OF CHANGE:		20100326

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			MORGAN ROBIN L
		CENTRAL INDEX KEY:			0000938694

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-12368
		FILM NUMBER:		10708866

	MAIL ADDRESS:	
		STREET 1:		3847 EAST LOOP 820 SOUTH
		CITY:			FORT WORTH
		STATE:			TX
		ZIP:			76119

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			MORGAN RONALD C
		CENTRAL INDEX KEY:			0000938695

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-12368
		FILM NUMBER:		10708867

	MAIL ADDRESS:	
		STREET 1:		3847 EAST LOOP 820 SOUTH
		CITY:			FORT WORTH
		STATE:			TX
		ZIP:			76119

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			TANDY LEATHER FACTORY INC
		CENTRAL INDEX KEY:			0000909724
		STANDARD INDUSTRIAL CLASSIFICATION:	LEATHER & LEATHER PRODUCTS [3100]
		IRS NUMBER:				752543540
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		3847 EAST LOOP
		STREET 2:		820 SOUTH
		CITY:			FT WORTH
		STATE:			TX
		ZIP:			76119
		BUSINESS PHONE:		8174964414

	MAIL ADDRESS:	
		STREET 1:		3847 EAST LOOP
		STREET 2:		820 SOUTH
		CITY:			FT WORTH
		STATE:			TX
		ZIP:			76119

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	LEATHER FACTORY INC
		DATE OF NAME CHANGE:	19930723
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>doc1.xml
<DESCRIPTION>FORM 4
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0303</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2010-03-24</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0000909724</issuerCik>
        <issuerName>TANDY LEATHER FACTORY INC</issuerName>
        <issuerTradingSymbol>TLF</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0000938695</rptOwnerCik>
            <rptOwnerName>MORGAN RONALD C</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>7200 LAKE HAVASU COURT</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>ARLINGTON</rptOwnerCity>
            <rptOwnerState>TX</rptOwnerState>
            <rptOwnerZipCode>76016</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0000938694</rptOwnerCik>
            <rptOwnerName>MORGAN ROBIN L</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>7200 LAKE HAVASU COURT</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>ARLINGTON</rptOwnerCity>
            <rptOwnerState>TX</rptOwnerState>
            <rptOwnerZipCode>76016</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeHolding>
            <securityTitle>
                <value>COMMON STOCK, PV $0.0024</value>
                <footnoteId id="F1"/>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>121252.3763</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>BY IRA</value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
        <nonDerivativeHolding>
            <securityTitle>
                <value>COMMON STOCK, PV $0.0024</value>
                <footnoteId id="F1"/>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>59869.3401</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>BY IRA</value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>COMMON STOCK, PV $0.0024</value>
                <footnoteId id="F1"/>
            </securityTitle>
            <transactionDate>
                <value>2010-03-24</value>
            </transactionDate>
            <deemedExecutionDate></deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>1200</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>4.00</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>1082353</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <derivativeTable></derivativeTable>

    <footnotes>
        <footnote id="F1">THESE SHARES ARE HELD BY RONALD C MORGAN AND HIS WIFE, ROBIN L MORGAN, AS JOINT TENANTS.  BOTH ARE REPORTING PERSONS.</footnote>
    </footnotes>

    <remarks></remarks>

    <ownerSignature>
        <signatureName>RONALD C MORGAN</signatureName>
        <signatureDate>2010-03-26</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>ROBIN L MORGAN</signatureName>
        <signatureDate>2010-03-26</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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