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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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<SEC-DOCUMENT>0001001039-06-000246.txt : 20061204
<SEC-HEADER>0001001039-06-000246.hdr.sgml : 20061204
<ACCEPTANCE-DATETIME>20061204195920
ACCESSION NUMBER:		0001001039-06-000246
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20061130
FILED AS OF DATE:		20061204
DATE AS OF CHANGE:		20061204

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			WALT DISNEY CO/
		CENTRAL INDEX KEY:			0001001039
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-MISCELLANEOUS AMUSEMENT & RECREATION [7990]
		IRS NUMBER:				954545390
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0930

	BUSINESS ADDRESS:	
		STREET 1:		500 SOUTH BUENA VISTA ST
		CITY:			BURBANK
		STATE:			CA
		ZIP:			91521
		BUSINESS PHONE:		8185601000

	MAIL ADDRESS:	
		STREET 1:		500 SOUTH BUENA VISTA ST
		CITY:			BURBANK
		STATE:			CA
		ZIP:			91521

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DC HOLDCO INC
		DATE OF NAME CHANGE:	19950918

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			IGER ROBERT A
		CENTRAL INDEX KEY:			0001207394

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-11605
		FILM NUMBER:		061255734

	MAIL ADDRESS:	
		STREET 1:		C/O WALT DISNEY CO
		STREET 2:		500 S BUENA VISTA STREET
		CITY:			BURBANK
		STATE:			CA
		ZIP:			91521-1062
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>ige318.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2006-11-30</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0001001039</issuerCik>
        <issuerName>WALT DISNEY CO/</issuerName>
        <issuerTradingSymbol>DIS</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001207394</rptOwnerCik>
            <rptOwnerName>IGER ROBERT A</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>500 SOUTH BUENA VISTA STREET</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>BURBANK</rptOwnerCity>
            <rptOwnerState>CA</rptOwnerState>
            <rptOwnerZipCode>91521</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>President and CEO</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Disney Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2006-11-30</value>
            </transactionDate>
            <deemedExecutionDate></deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>130076</value>
                    <footnoteId id="F1"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>296652.00</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value></value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Disney Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2006-11-30</value>
            </transactionDate>
            <deemedExecutionDate></deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>F</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>59510</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>33.02</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>237142.00</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value></value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Disney Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>16195.58</value>
                    <footnoteId id="F2"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By 401(k)</value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">Awarded upon achievment of performance criteria for long-term incentive awards made during the Company's 2002 fiscal year as set forth in the table entitled 'Long-Term Incentive Awards--Awards in Last Fiscal Year' in the Company's proxy statement for its 2003 annual meeting of shareholders.  Performance-based restricted stock units vested on November 30, 2006 and are payable in shares of Disney Common Stock within 30 days of such date.  Includes dividend equivalents credited with respect to the award, pursuant to the terms thereof.</footnote>
        <footnote id="F2">Shares held in The Walt Disney Company Stock Fund as of November 30, 2006.  The fund is one investment option in the 401(k) Plan and contains Company matching contributions.</footnote>
    </footnotes>

    <remarks></remarks>

    <ownerSignature>
        <signatureName>By: Joseph M. Santaniello (POA on file)</signatureName>
        <signatureDate>2006-12-04</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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