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

    <schemaVersion>X0603</schemaVersion>

    <submissionType>D/A</submissionType>

    <testOrLive>LIVE</testOrLive>

    <primaryIssuer>
        <cik>0001421782</cik>
        <entityName>MARANON MEZZANINE FUND, L.P.</entityName>
        <issuerAddress>
            <street1>ONE NORTH FRANKLIN STREET</street1>
            <street2>SUITE 2700</street2>
            <city>CHICAGO</city>
            <stateOrCountry>IL</stateOrCountry>
            <zipCode>60606</zipCode>
        </issuerAddress>
        <issuerPhoneNumber>(312) 646-1200</issuerPhoneNumber>
        <jurisdictionOfInc>DELAWARE</jurisdictionOfInc>
        <issuerPreviousNameList>
            <previousName>MARANON LEVERAGED CAPITAL FUND, L.P.</previousName>
        </issuerPreviousNameList>
        <edgarPreviousNameList>
            <previousName>MARANON MEZZANINE FUND LP</previousName>
        </edgarPreviousNameList>
        <entityType>Limited Partnership</entityType>
        <yearOfInc>
            <withinFiveYears>true</withinFiveYears>
            <value>2007</value>
        </yearOfInc>
    </primaryIssuer>

    <relatedPersonsList>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>L.</firstName>
                <middleName>THOMAS</middleName>
                <lastName>GREGORY</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>ONE NORTH FRANKLIN</street1>
                <street2>SUITE 2700</street2>
                <city>CHICAGO</city>
                <stateOrCountry>IL</stateOrCountry>
                <zipCode>60606</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>IAN</firstName>
                <middleName>M.</middleName>
                <lastName>LARKIN</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>ONE NORTH FRANKLIN</street1>
                <street2>SUITE 2700</street2>
                <city>CHICAGO</city>
                <stateOrCountry>IL</stateOrCountry>
                <zipCode>60606</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
    </relatedPersonsList>

    <offeringData>
        <industryGroup>
            <industryGroupType>Pooled Investment Fund</industryGroupType>
            <investmentFundInfo>
                <investmentFundType>Private Equity Fund</investmentFundType>
                <is40Act>false</is40Act>
            </investmentFundInfo>
        </industryGroup>
        <issuerSize>
            <revenueRange>Decline to Disclose</revenueRange>
        </issuerSize>
        <federalExemptionsExclusions>
            <item>06</item>
            <item>3C</item>
            <item>3C.7</item>
        </federalExemptionsExclusions>
        <typeOfFiling>
            <newOrAmendment>
                <isAmendment>true</isAmendment>
                <previousAccessionNumber>9999999997-09-005583</previousAccessionNumber>
            </newOrAmendment>
            <dateOfFirstSale>
                <value>2008-07-29</value>
            </dateOfFirstSale>
        </typeOfFiling>
        <durationOfOffering>
            <moreThanOneYear>true</moreThanOneYear>
        </durationOfOffering>
        <typesOfSecuritiesOffered>
            <isEquityType>true</isEquityType>
            <isPooledInvestmentFundType>true</isPooledInvestmentFundType>
        </typesOfSecuritiesOffered>
        <businessCombinationTransaction>
            <isBusinessCombinationTransaction>false</isBusinessCombinationTransaction>
            <clarificationOfResponse></clarificationOfResponse>
        </businessCombinationTransaction>
        <minimumInvestmentAccepted>10000</minimumInvestmentAccepted>
        <salesCompensationList>
            <recipient>
                <recipientName>MALLORY CAPITAL GROUP, LLC</recipientName>
                <recipientCRDNumber>108486</recipientCRDNumber>
                <associatedBDName>None</associatedBDName>
                <associatedBDCRDNumber>None</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>19 OLD KING'S HIGHWAY SOUTH</street1>
                    <street2>SUITE 14</street2>
                    <city>DARIEN</city>
                    <stateOrCountry>CT</stateOrCountry>
                    <zipCode>06820</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <value>All States</value>
                </statesOfSolicitationList>
            </recipient>
        </salesCompensationList>
        <offeringSalesAmounts>
            <totalOfferingAmount>250000000</totalOfferingAmount>
            <totalAmountSold>180000001</totalAmountSold>
            <totalRemaining>69999999</totalRemaining>
            <clarificationOfResponse>The General Partner reserves the right to offer a greater amount of limited partner interests.</clarificationOfResponse>
        </offeringSalesAmounts>
        <investors>
            <hasNonAccreditedInvestors>false</hasNonAccreditedInvestors>
            <totalNumberAlreadyInvested>14</totalNumberAlreadyInvested>
        </investors>
        <salesCommissionsFindersFees>
            <salesCommissions>
                <dollarAmount>1895000</dollarAmount>
                <isEstimate>true</isEstimate>
            </salesCommissions>
            <findersFees>
                <dollarAmount>0</dollarAmount>
                <isEstimate>true</isEstimate>
            </findersFees>
            <clarificationOfResponse>Placement Agent fees to be paid upon a fee schedule.  Such fees are offset dollar for dollar against the management fees payable by the Issuer. The payment of such fees by the Issuer will not involve any additional expediture by the Issuer.</clarificationOfResponse>
        </salesCommissionsFindersFees>
        <useOfProceeds>
            <grossProceedsUsed>
                <dollarAmount>25000000</dollarAmount>
                <isEstimate>true</isEstimate>
            </grossProceedsUsed>
            <clarificationOfResponse>Estimated aggregate amount for the first five years; thereafter the Issuer shall continue to pay management fees.</clarificationOfResponse>
        </useOfProceeds>
        <signatureBlock>
            <authorizedRepresentative>false</authorizedRepresentative>
            <signature>
                <issuerName>MARANON MEZZANINE FUND, L.P.</issuerName>
                <signatureName>/s/ L. THOMAS GREGORY</signatureName>
                <nameOfSigner>L. THOMAS GREGORY</nameOfSigner>
                <signatureTitle>AUTHORIZED PERSON</signatureTitle>
                <signatureDate>2010-02-08</signatureDate>
            </signature>
        </signatureBlock>
    </offeringData>
</edgarSubmission>
