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    <submissionType>13F-HR/A</submissionType>
    <filerInfo>
      <liveTestFlag>LIVE</liveTestFlag>
      <flags>
        <confirmingCopyFlag>false</confirmingCopyFlag>
        <returnCopyFlag>true</returnCopyFlag>
        <overrideInternetFlag>false</overrideInternetFlag>
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      <filer>
        <credentials>
          <cik>0001390113</cik>
          <ccc>XXXXXXXX</ccc>
        </credentials>
      </filer>
      <periodOfReport>06-30-2016</periodOfReport>
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      <reportCalendarOrQuarter>06-30-2016</reportCalendarOrQuarter>
      <isAmendment>true</isAmendment>
      <amendmentNo>2</amendmentNo>
      <amendmentInfo>
        <amendmentType>NEW HOLDINGS</amendmentType>
        <confDeniedExpired>true</confDeniedExpired>
        <dateDeniedExpired>02-14-2017</dateDeniedExpired>
        <dateReported>08-15-2016</dateReported>
        <reasonForNonConfidentiality>Confidential Treatment Expired</reasonForNonConfidentiality>
      </amendmentInfo>
      <filingManager>
        <name>Taconic Capital Advisors LP</name>
        <address>
          <ns1:street1>280 PARK AVENUE, 5TH FLOOR</ns1:street1>
          <ns1:city>NEW YORK</ns1:city>
          <ns1:stateOrCountry>NY</ns1:stateOrCountry>
          <ns1:zipCode>10017</ns1:zipCode>
        </address>
      </filingManager>
      <reportType>13F HOLDINGS REPORT</reportType>
      <form13FFileNumber>028-12492</form13FFileNumber>
      <provideInfoForInstruction5>N</provideInfoForInstruction5>
    </coverPage>
    <signatureBlock>
      <name>Alyssa Yavner</name>
      <title>Chief Financial Officer</title>
      <phone>212 209-3100</phone>
      <signature>/s/ Alyssa Yavner</signature>
      <city>New York</city>
      <stateOrCountry>NY</stateOrCountry>
      <signatureDate>02-09-2017</signatureDate>
    </signatureBlock>
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          <sequenceNumber>02</sequenceNumber>
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            <cik>0001561248</cik>
            <form13FFileNumber>028-15064</form13FFileNumber>
            <name>Taconic Capital Advisors (Hong Kong) Ltd</name>
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        </otherManager2>
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