<?xml version="1.0"?>
<edgarSubmission>

    <schemaVersion>X0603</schemaVersion>

    <submissionType>D/A</submissionType>

    <testOrLive>LIVE</testOrLive>

    <primaryIssuer>
        <cik>0001160266</cik>
        <entityName>PRIVATE ADVISORS STABLE VALUE FUND LTD</entityName>
        <issuerAddress>
            <street1>BOX 32021 SMB ADMIRAL FINANCIAL CENTRE</street1>
            <city>GEORGE TOWN</city>
            <stateOrCountry>E9</stateOrCountry>
            <zipCode>00000</zipCode>
        </issuerAddress>
        <issuerPhoneNumber>345-949-0704</issuerPhoneNumber>
        <jurisdictionOfInc>CAYMAN ISLANDS</jurisdictionOfInc>
        <issuerPreviousNameList>
            <value>None</value>
        </issuerPreviousNameList>
        <edgarPreviousNameList>
            <value>None</value>
        </edgarPreviousNameList>
        <entityType>Corporation</entityType>
        <yearOfInc>
            <overFiveYears>true</overFiveYears>
        </yearOfInc>
    </primaryIssuer>

    <relatedPersonsList>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Louis</firstName>
                <middleName>W.</middleName>
                <lastName>Moelchert, Jr.</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>1800 Bayberry Court</street1>
                <street2>Suite 300</street2>
                <city>Richmond</city>
                <stateOrCountry>VA</stateOrCountry>
                <zipCode>23226</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Charles</firstName>
                <middleName>M.</middleName>
                <lastName>Johnson, III</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>1800 Bayberry Court</street1>
                <street2>Suite 300</street2>
                <city>Richmond</city>
                <stateOrCountry>VA</stateOrCountry>
                <zipCode>23226</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Louis</firstName>
                <middleName>W.</middleName>
                <lastName>Moelchert, III</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>1800 Bayberry Court</street1>
                <street2>Suite 300</street2>
                <city>Richmond</city>
                <stateOrCountry>VA</stateOrCountry>
                <zipCode>23226</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>David</firstName>
                <lastName>Bree</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>20 Genesis Close</street1>
                <street2>Box 31910</street2>
                <city>George Town</city>
                <stateOrCountry>E9</stateOrCountry>
                <zipCode>KY1-1208</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Don</firstName>
                <lastName>Seymour</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>20 Genesis Close</street1>
                <street2>Box 31910</street2>
                <city>George Town</city>
                <stateOrCountry>E9</stateOrCountry>
                <zipCode>KY1-1208</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
    </relatedPersonsList>

    <offeringData>
        <industryGroup>
            <industryGroupType>Pooled Investment Fund</industryGroupType>
            <investmentFundInfo>
                <investmentFundType>Hedge Fund</investmentFundType>
                <is40Act>false</is40Act>
            </investmentFundInfo>
        </industryGroup>
        <issuerSize>
            <aggregateNetAssetValueRange>Over $100,000,000</aggregateNetAssetValueRange>
        </issuerSize>
        <federalExemptionsExclusions>
            <item>06</item>
            <item>3C</item>
            <item>3C.7</item>
        </federalExemptionsExclusions>
        <typeOfFiling>
            <newOrAmendment>
                <isAmendment>true</isAmendment>
                <previousAccessionNumber>9999999997-05-033992</previousAccessionNumber>
            </newOrAmendment>
            <dateOfFirstSale>
                <value>2001-04-02</value>
            </dateOfFirstSale>
        </typeOfFiling>
        <durationOfOffering>
            <moreThanOneYear>true</moreThanOneYear>
        </durationOfOffering>
        <typesOfSecuritiesOffered>
            <isPooledInvestmentFundType>true</isPooledInvestmentFundType>
        </typesOfSecuritiesOffered>
        <businessCombinationTransaction>
            <isBusinessCombinationTransaction>false</isBusinessCombinationTransaction>
            <clarificationOfResponse></clarificationOfResponse>
        </businessCombinationTransaction>
        <minimumInvestmentAccepted>100000</minimumInvestmentAccepted>
        <salesCompensationList>
            <recipient>
                <recipientName>North Bridge Capital</recipientName>
                <recipientCRDNumber>107320</recipientCRDNumber>
                <associatedBDName>None</associatedBDName>
                <associatedBDCRDNumber>None</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>45 School Street</street1>
                    <city>Boston</city>
                    <stateOrCountry>MA</stateOrCountry>
                    <zipCode>02108</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <state>MA</state>
                    <state>NY</state>
                    <state>OH</state>
                    <state>PA</state>
                    <state>VT</state>
                    <state>VA</state>
                </statesOfSolicitationList>
            </recipient>
            <recipient>
                <recipientName>Coronado Investments, LLC</recipientName>
                <recipientCRDNumber>111992</recipientCRDNumber>
                <associatedBDName>None</associatedBDName>
                <associatedBDCRDNumber>None</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>705 Palomar Airport Road</street1>
                    <street2>Suite 350</street2>
                    <city>Carlsbad</city>
                    <stateOrCountry>CA</stateOrCountry>
                    <zipCode>92009</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <state>CA</state>
                    <state>CT</state>
                    <state>DE</state>
                    <state>FL</state>
                    <state>IL</state>
                    <state>MA</state>
                    <state>NJ</state>
                    <state>NY</state>
                    <state>OR</state>
                    <state>PA</state>
                    <state>TX</state>
                </statesOfSolicitationList>
            </recipient>
            <recipient>
                <recipientName>Deutsche Bank</recipientName>
                <recipientCRDNumber>2525</recipientCRDNumber>
                <associatedBDName>None</associatedBDName>
                <associatedBDCRDNumber>None</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>280 Park Avenue</street1>
                    <street2>3rd Floor</street2>
                    <city>New York</city>
                    <stateOrCountry>NY</stateOrCountry>
                    <zipCode>10017</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <value>All States</value>
                </statesOfSolicitationList>
            </recipient>
            <recipient>
                <recipientName>Scott &amp; Stringfellow</recipientName>
                <recipientCRDNumber>6255</recipientCRDNumber>
                <associatedBDName>None</associatedBDName>
                <associatedBDCRDNumber>None</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>909 East Main Street</street1>
                    <city>Richmond</city>
                    <stateOrCountry>VA</stateOrCountry>
                    <zipCode>23219</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <value>All States</value>
                </statesOfSolicitationList>
            </recipient>
            <recipient>
                <recipientName>Smith Barney</recipientName>
                <recipientCRDNumber>7059</recipientCRDNumber>
                <associatedBDName>None</associatedBDName>
                <associatedBDCRDNumber>None</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>388 Greewich St.</street1>
                    <street2>18th Floor</street2>
                    <city>New York</city>
                    <stateOrCountry>NY</stateOrCountry>
                    <zipCode>10013</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <value>All States</value>
                </statesOfSolicitationList>
            </recipient>
        </salesCompensationList>
        <offeringSalesAmounts>
            <totalOfferingAmount>Indefinite</totalOfferingAmount>
            <totalAmountSold>601200000</totalAmountSold>
            <totalRemaining>Indefinite</totalRemaining>
            <clarificationOfResponse></clarificationOfResponse>
        </offeringSalesAmounts>
        <investors>
            <hasNonAccreditedInvestors>false</hasNonAccreditedInvestors>
            <totalNumberAlreadyInvested>247</totalNumberAlreadyInvested>
        </investors>
        <salesCommissionsFindersFees>
            <salesCommissions>
                <dollarAmount>3852830</dollarAmount>
                <isEstimate>true</isEstimate>
            </salesCommissions>
            <findersFees>
                <dollarAmount>0</dollarAmount>
            </findersFees>
            <clarificationOfResponse></clarificationOfResponse>
        </salesCommissionsFindersFees>
        <useOfProceeds>
            <grossProceedsUsed>
                <dollarAmount>7047342</dollarAmount>
                <isEstimate>true</isEstimate>
            </grossProceedsUsed>
            <clarificationOfResponse></clarificationOfResponse>
        </useOfProceeds>
        <signatureBlock>
            <authorizedRepresentative>false</authorizedRepresentative>
            <signature>
                <issuerName>PRIVATE ADVISORS STABLE VALUE FUND LTD</issuerName>
                <signatureName>James J. Shannon</signatureName>
                <nameOfSigner>James J. Shannon</nameOfSigner>
                <signatureTitle>Partner of Private Advisors, LLC the Investment Manager</signatureTitle>
                <signatureDate>2010-03-16</signatureDate>
            </signature>
        </signatureBlock>
    </offeringData>
</edgarSubmission>
