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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 GKrpgRpWSt1LpYpQn2N+DMaD852CKJ6Jvd54bje9webKs6ZY6otoB3d+uEshIsym
 2LkVtMzD+W4SnIC8NZwTEw==

<SEC-DOCUMENT>0001209191-09-016288.txt : 20090313
<SEC-HEADER>0001209191-09-016288.hdr.sgml : 20090313
<ACCEPTANCE-DATETIME>20090313191132
ACCESSION NUMBER:		0001209191-09-016288
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20090312
FILED AS OF DATE:		20090313
DATE AS OF CHANGE:		20090313

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MERCADOLIBRE INC
		CENTRAL INDEX KEY:			0001099590
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-BUSINESS SERVICES, NEC [7389]
		IRS NUMBER:				000000000

	BUSINESS ADDRESS:	
		STREET 1:		4890 SUBSUELO 1430 BUENOS AIRES
		CITY:			BUENOS AIRES ARGENTINA
		STATE:			C1
		ZIP:			00000
		BUSINESS PHONE:		000-000-0000

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Hernan Kazah
		CENTRAL INDEX KEY:			0001409278

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-33647
		FILM NUMBER:		09681703

	BUSINESS ADDRESS:	
		BUSINESS PHONE:		54-11-5352-8000

	MAIL ADDRESS:	
		STREET 1:		C/O MERCADOLIBRE, INC.
		STREET 2:		TRONADOR 4890, 8TH FLOOR
		CITY:			BUENOS AIRES
		STATE:			C1
		ZIP:			C1430DNN
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>c82655_4x0.xml
<DESCRIPTION>MAIN DOCUMENT DESCRIPTION
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0303</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2009-03-12</periodOfReport>

    <issuer>
        <issuerCik>0001099590</issuerCik>
        <issuerName>MERCADOLIBRE INC</issuerName>
        <issuerTradingSymbol>MELI</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001409278</rptOwnerCik>
            <rptOwnerName>Hernan Kazah</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>TRONADOR 4890, 8TH FLOOR</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>BUENOS AIRES</rptOwnerCity>
            <rptOwnerState>C1</rptOwnerState>
            <rptOwnerZipCode>C1430DNN</rptOwnerZipCode>
            <rptOwnerStateDescription>ARGENTINA</rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>EVP and COO</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2009-03-12</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>5000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>16.69</value>
                    <footnoteId id="F1"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>65070</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>216300</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By Trust</value>
                    <footnoteId id="F2"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <derivativeTable></derivativeTable>

    <footnotes>
        <footnote id="F1">Represents the weighted-average sale price per share of a series of transactions, all of which were executed on March 12, 2009. The actual sale prices ranged from a low of $16.59 to a high of $16.89.  The Reporting Person undertakes to provide upon request of the SEC Staff, MercadoLibre, Inc. or a MercadoLibre, Inc. security holder full information regarding the number of shares sold at each price within the range.</footnote>
        <footnote id="F2">Shares held by the Hernan Kazah Family Trust, of which Hernan Kazah  is the sole beneficiary.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Jacobo Cohen Imach (attorney-in-fact)</signatureName>
        <signatureDate>2009-03-13</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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