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    <schemaVersion>X0603</schemaVersion>

    <submissionType>D/A</submissionType>

    <testOrLive>LIVE</testOrLive>

    <primaryIssuer>
        <cik>0001356265</cik>
        <entityName>TACONIC OFFSHORE FUND LTD.</entityName>
        <issuerAddress>
            <street1>C/O MAPLES CORPORATE SERVICES LIMITED</street1>
            <street2>UGLAND HOUSE, S CHURCH ST, PO BOX 309GT</street2>
            <city>GEORGE TOWN, GRAND CAYMAN</city>
            <stateOrCountry>E9</stateOrCountry>
            <zipCode>CAYMAN</zipCode>
        </issuerAddress>
        <issuerPhoneNumber>345-949-8066</issuerPhoneNumber>
        <jurisdictionOfInc>CAYMAN ISLANDS</jurisdictionOfInc>
        <edgarPreviousNameList>
            <previousName>TACONIC OFFSHORE FUND LTD /NY</previousName>
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        <entityType>Other</entityType>
        <entityTypeOtherDesc>Cayman Islands Exempted Company</entityTypeOtherDesc>
        <yearOfInc>
            <overFiveYears>true</overFiveYears>
        </yearOfInc>
    </primaryIssuer>

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                <lastName>Taconic Capital Advisors L.P.</lastName>
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                <city>New York</city>
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                <zipCode>10022</zipCode>
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                <firstName>Kenneth</firstName>
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                <firstName>Joshua</firstName>
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            <relatedPersonAddress>
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                <firstName>Michael</firstName>
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    <offeringData>
        <industryGroup>
            <industryGroupType>Pooled Investment Fund</industryGroupType>
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                <investmentFundType>Hedge Fund</investmentFundType>
                <is40Act>false</is40Act>
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        </industryGroup>
        <issuerSize>
            <aggregateNetAssetValueRange>Decline to Disclose</aggregateNetAssetValueRange>
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        <federalExemptionsExclusions>
            <item>06</item>
            <item>3C</item>
            <item>3C.7</item>
        </federalExemptionsExclusions>
        <typeOfFiling>
            <newOrAmendment>
                <isAmendment>true</isAmendment>
                <previousAccessionNumber>0001356265-09-000004</previousAccessionNumber>
            </newOrAmendment>
            <dateOfFirstSale>
                <value>2000-07-01</value>
            </dateOfFirstSale>
        </typeOfFiling>
        <durationOfOffering>
            <moreThanOneYear>true</moreThanOneYear>
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        <typesOfSecuritiesOffered>
            <isPooledInvestmentFundType>true</isPooledInvestmentFundType>
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        <businessCombinationTransaction>
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            <clarificationOfResponse></clarificationOfResponse>
        </businessCombinationTransaction>
        <minimumInvestmentAccepted>1000000</minimumInvestmentAccepted>
        <salesCompensationList></salesCompensationList>
        <offeringSalesAmounts>
            <totalOfferingAmount>Indefinite</totalOfferingAmount>
            <totalAmountSold>36909202</totalAmountSold>
            <totalRemaining>Indefinite</totalRemaining>
            <clarificationOfResponse></clarificationOfResponse>
        </offeringSalesAmounts>
        <investors>
            <hasNonAccreditedInvestors>false</hasNonAccreditedInvestors>
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                <dollarAmount>0</dollarAmount>
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                <dollarAmount>0</dollarAmount>
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            <clarificationOfResponse></clarificationOfResponse>
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        <signatureBlock>
            <authorizedRepresentative>false</authorizedRepresentative>
            <signature>
                <issuerName>TACONIC OFFSHORE FUND LTD.</issuerName>
                <signatureName>Elizabeth Keeley</signatureName>
                <nameOfSigner>Elizabeth Keeley</nameOfSigner>
                <signatureTitle>Chief Compliance Officer of the Investment Manager</signatureTitle>
                <signatureDate>2010-03-12</signatureDate>
            </signature>
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    </offeringData>
</edgarSubmission>
