-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 KKNYCtj/D+l2t6xdZWQaXhooVSxYbD7X6adbIjYn8ooYW40AGWUtXArnG8D6AQsX
 sg51SMPQkHB6L2vRZdncOg==

<SEC-DOCUMENT>0001242521-03-000001.txt : 20030731
<SEC-HEADER>0001242521-03-000001.hdr.sgml : 20030731
<ACCEPTANCE-DATETIME>20030731105629
ACCESSION NUMBER:		0001242521-03-000001
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20030729
FILED AS OF DATE:		20030731

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			HYPERION TOTAL RETURN FUND INC
		CENTRAL INDEX KEY:			0000851169
		IRS NUMBER:				132529369
		STATE OF INCORPORATION:			NY
		FISCAL YEAR END:			1130

	BUSINESS ADDRESS:	
		STREET 1:		ONE LIBERTY PLAZA
		STREET 2:		165 BROADWAY, 36TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10006-1404
		BUSINESS PHONE:		212-549-8400

	MAIL ADDRESS:	
		STREET 1:		ONE LIBERTY PLAZA
		STREET 2:		165 BROADWAY, 36TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10006-1404

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	HYPERION TOTAL RETURN & INCOME FUND INC
		DATE OF NAME CHANGE:	19890727

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			ALTMAN MATTHEW S
		CENTRAL INDEX KEY:			0001242521

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	811-05820
		FILM NUMBER:		03813349

	BUSINESS ADDRESS:	
		STREET 1:		HYPERION CAPITAL MANAGEMENT INC
		STREET 2:		165 BROADWAY
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10006
		BUSINESS PHONE:		2125498400
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>primary_doc.xml
<DESCRIPTION>PRIMARY DOCUMENT
<TEXT>
<XML>
<?xml version="1.0"?>

<ownershipDocument>

    <schemaVersion>X0201</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2003-07-29</periodOfReport>


    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0000851169</issuerCik>
        <issuerName>HYPERION TOTAL RETURN FUND INC</issuerName>
        <issuerTradingSymbol>HTR</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001242521</rptOwnerCik>
            <rptOwnerName>ALTMAN MATTHEW S</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>ONE LIBERTY PLAZA</rptOwnerStreet1>
            <rptOwnerStreet2>36TH FLOOR</rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10006</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>1</isOther>
            <otherText>VP &amp; Portfolio Mgr of Inv Adv</otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>

        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2003-07-29</value>
            </transactionDate>
            <deemedExecutionDate>
                <value>2003-07-29</value>
            </deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>P</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionTimeliness>
                <value></value>
            </transactionTimeliness>
            <transactionAmounts>
                <transactionShares>
                    <value>1000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>8.75</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>1810</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>

    </nonDerivativeTable>



    <ownerSignature>
        <signatureName>Matthew S. Altman</signatureName>
        <signatureDate>2003-07-29</signatureDate>
    </ownerSignature>

</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----