-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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 BVIiW2rAJz6qBxW9wMIb4Q==

<SEC-DOCUMENT>0001209191-09-056992.txt : 20091215
<SEC-HEADER>0001209191-09-056992.hdr.sgml : 20091215
<ACCEPTANCE-DATETIME>20091214213357
ACCESSION NUMBER:		0001209191-09-056992
CONFORMED SUBMISSION TYPE:	D
PUBLIC DOCUMENT COUNT:		1
ITEM INFORMATION:		Rule 506
FILED AS OF DATE:		20091215
DATE AS OF CHANGE:		20091214
EFFECTIVENESS DATE:		20091215

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			HOLLY ENERGY PARTNERS LP
		CENTRAL INDEX KEY:			0001283140
		STANDARD INDUSTRIAL CLASSIFICATION:	PIPE LINES (NO NATURAL GAS) [4610]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		D
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	021-136908
		FILM NUMBER:		091240241

	MAIL ADDRESS:	
		STREET 1:		100 CRESCENT COURT STE 1600
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75201
</SEC-HEADER>
<DOCUMENT>
<TYPE>D
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
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<?xml version="1.0"?>
<edgarSubmission>

    <schemaVersion>X0603</schemaVersion>

    <submissionType>D</submissionType>

    <testOrLive>LIVE</testOrLive>

    <primaryIssuer>
        <cik>0001283140</cik>
        <entityName>HOLLY ENERGY PARTNERS LP</entityName>
        <issuerAddress>
            <street1>100 Crescent Court, Suite 1600</street1>
            <city>Dallas</city>
            <stateOrCountry>TX</stateOrCountry>
            <zipCode>75201</zipCode>
        </issuerAddress>
        <issuerPhoneNumber>214-871-3555</issuerPhoneNumber>
        <jurisdictionOfInc>DELAWARE</jurisdictionOfInc>
        <issuerPreviousNameList>
            <value>None</value>
        </issuerPreviousNameList>
        <edgarPreviousNameList>
            <value>None</value>
        </edgarPreviousNameList>
        <entityType>Limited Partnership</entityType>
        <yearOfInc>
            <overFiveYears>true</overFiveYears>
        </yearOfInc>
    </primaryIssuer>

    <relatedPersonsList>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Matthew</firstName>
                <middleName>P</middleName>
                <lastName>Clifton</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>100 Crescent Court, Suite 1600</street1>
                <city>Dallas</city>
                <stateOrCountry>TX</stateOrCountry>
                <zipCode>75201</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Chairman and CEO of Holly Logistic Services, L.L.C., as the general partner of HEP Logistics Holdings, L.P., the general partner of  Holly Energy Partners, L.P.</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>David</firstName>
                <middleName>G</middleName>
                <lastName>Blair</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>100 Crescent Court, Suite 1600</street1>
                <city>Dallas</city>
                <stateOrCountry>TX</stateOrCountry>
                <zipCode>75201</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Officer of Holly Logistic Services, L.L.C., as the general partner of HEP Logistics Holdings, L.P., the general partner of  Holly Energy Partners, L.P.</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Bruce</firstName>
                <middleName>R</middleName>
                <lastName>Shaw</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>100 Crescent Court, Suite 1600</street1>
                <city>Dallas</city>
                <stateOrCountry>TX</stateOrCountry>
                <zipCode>75201</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Officer of Holly Logistic Services, L.L.C., as the general partner of HEP Logistics Holdings, L.P., the general partner of  Holly Energy Partners, L.P.</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Denise</firstName>
                <middleName>C</middleName>
                <lastName>McWatters</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>100 Crescent Court, Suite 1600</street1>
                <city>Dallas</city>
                <stateOrCountry>TX</stateOrCountry>
                <zipCode>75201</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Officer of Holly Logistic Services, L.L.C., as the general partner of HEP Logistics Holdings, L.P., the general partner of  Holly Energy Partners, L.P.</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>William</firstName>
                <middleName>P</middleName>
                <lastName>Stengel</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>100 Crescent Court, Suite 1600</street1>
                <city>Dallas</city>
                <stateOrCountry>TX</stateOrCountry>
                <zipCode>75201</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Director of Holly Logistic Services, L.L.C., as the general partner of HEP Logistics Holdings, L.P., the general partner of Holly Energy Partners, L.P.</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>P</firstName>
                <middleName>Dean</middleName>
                <lastName>Ridenour</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>100 Crescent Court, Suite 1600</street1>
                <city>Dallas</city>
                <stateOrCountry>TX</stateOrCountry>
                <zipCode>75201</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Director of Holly Logistic Services, L.L.C., as the general partner of HEP Logistics Holdings, L.P., the general partner of  Holly Energy Partners, L.P.</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Charles</firstName>
                <middleName>M</middleName>
                <lastName>Darling, IV</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>100 Crescent Court, Suite 1600</street1>
                <city>Dallas</city>
                <stateOrCountry>TX</stateOrCountry>
                <zipCode>75201</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Director of Holly Logistic Services, L.L.C., as the general partner of HEP Logistics Holdings, L.P., the general partner of  Holly Energy Partners, L.P.</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>William</firstName>
                <middleName>J</middleName>
                <lastName>Gray</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>100 Crescent Court, Suite 1600</street1>
                <city>Dallas</city>
                <stateOrCountry>TX</stateOrCountry>
                <zipCode>75201</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Director of Holly Logistic Services, L.L.C., as the general partner of HEP Logistics Holdings, L.P., the general partner of  Holly Energy Partners, L.P.</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Jerry</firstName>
                <middleName>W</middleName>
                <lastName>Pinkerton</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>100 Crescent Court, Suite 1600</street1>
                <city>Dallas</city>
                <stateOrCountry>TX</stateOrCountry>
                <zipCode>75201</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Director of Holly Logistic Services, L.L.C., as the general partner of HEP Logistics Holdings, L.P., the general partner of  Holly Energy Partners, L.P.</relationshipClarification>
        </relatedPersonInfo>
    </relatedPersonsList>

    <offeringData>
        <industryGroup>
            <industryGroupType>Oil and Gas</industryGroupType>
        </industryGroup>
        <issuerSize>
            <revenueRange>Over $100,000,000</revenueRange>
        </issuerSize>
        <federalExemptionsExclusions>
            <item>06</item>
        </federalExemptionsExclusions>
        <typeOfFiling>
            <newOrAmendment>
                <isAmendment>false</isAmendment>
            </newOrAmendment>
            <dateOfFirstSale>
                <value>2009-12-01</value>
            </dateOfFirstSale>
        </typeOfFiling>
        <durationOfOffering>
            <moreThanOneYear>false</moreThanOneYear>
        </durationOfOffering>
        <typesOfSecuritiesOffered>
            <isEquityType>true</isEquityType>
        </typesOfSecuritiesOffered>
        <businessCombinationTransaction>
            <isBusinessCombinationTransaction>true</isBusinessCombinationTransaction>
            <clarificationOfResponse>Consideration for purchase of assets from Sinclair Tulsa Refining Company (closed on 12/1/09)</clarificationOfResponse>
        </businessCombinationTransaction>
        <minimumInvestmentAccepted>0</minimumInvestmentAccepted>
        <salesCompensationList></salesCompensationList>
        <offeringSalesAmounts>
            <totalOfferingAmount>53500000</totalOfferingAmount>
            <totalAmountSold>53500000</totalAmountSold>
            <totalRemaining>0</totalRemaining>
            <clarificationOfResponse>1,373,609 common units were issued as part of the consideration for the purchase of assets from Sinclair Tulsa Refining Company. The common units issued were valued at $53,500,000 in the purchase agreement.</clarificationOfResponse>
        </offeringSalesAmounts>
        <investors>
            <hasNonAccreditedInvestors>false</hasNonAccreditedInvestors>
            <totalNumberAlreadyInvested>1</totalNumberAlreadyInvested>
        </investors>
        <salesCommissionsFindersFees>
            <salesCommissions>
                <dollarAmount>0</dollarAmount>
            </salesCommissions>
            <findersFees>
                <dollarAmount>0</dollarAmount>
            </findersFees>
            <clarificationOfResponse></clarificationOfResponse>
        </salesCommissionsFindersFees>
        <useOfProceeds>
            <grossProceedsUsed>
                <dollarAmount>0</dollarAmount>
            </grossProceedsUsed>
            <clarificationOfResponse></clarificationOfResponse>
        </useOfProceeds>
        <signatureBlock>
            <authorizedRepresentative>false</authorizedRepresentative>
            <signature>
                <issuerName>HOLLY ENERGY PARTNERS LP</issuerName>
                <signatureName>/s/ Denise C. McWatters</signatureName>
                <nameOfSigner>Denise C. McWatters</nameOfSigner>
                <signatureTitle>VP, GC and Secretary of Holly Logistic Services, L.L.C.</signatureTitle>
                <signatureDate>2009-12-14</signatureDate>
            </signature>
        </signatureBlock>
    </offeringData>
</edgarSubmission>
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</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----