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

    <schemaVersion>X0603</schemaVersion>

    <submissionType>D/A</submissionType>

    <testOrLive>LIVE</testOrLive>

    <primaryIssuer>
        <cik>0001460021</cik>
        <entityName>Lyxor/Selectium Europe Fund Ltd</entityName>
        <issuerAddress>
            <street1>18 ESPLANADE</street1>
            <city>ST HELIER</city>
            <stateOrCountry>Y9</stateOrCountry>
            <zipCode>JE4 8RT</zipCode>
        </issuerAddress>
        <issuerPhoneNumber>212-278-7700</issuerPhoneNumber>
        <jurisdictionOfInc>JERSEY</jurisdictionOfInc>
        <issuerPreviousNameList>
            <value>None</value>
        </issuerPreviousNameList>
        <edgarPreviousNameList>
            <value>None</value>
        </edgarPreviousNameList>
        <entityType>Limited Liability Company</entityType>
        <yearOfInc>
            <withinFiveYears>true</withinFiveYears>
            <value>2008</value>
        </yearOfInc>
    </primaryIssuer>

    <relatedPersonsList>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Gildas</firstName>
                <middleName>Joseph Owen</middleName>
                <lastName>Briand</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>18 Esplanade</street1>
                <city>St. Helier</city>
                <stateOrCountry>Y9</stateOrCountry>
                <zipCode>JE4 8PR</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Brian</firstName>
                <middleName>Christopher</middleName>
                <lastName>Chambers</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>18 Esplanade</street1>
                <city>St. Helier</city>
                <stateOrCountry>Y9</stateOrCountry>
                <zipCode>JE4 8PR</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Thouraya</firstName>
                <lastName>Jarray</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>17, Cours Valmy</street1>
                <city>Paris--La Defense Cedex</city>
                <stateOrCountry>I0</stateOrCountry>
                <zipCode>92987</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Lionel</firstName>
                <lastName>Erdely</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>17, Cours Valmy</street1>
                <city>Paris--La Defense Cedex</city>
                <stateOrCountry>I0</stateOrCountry>
                <zipCode>92987</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Alastair</firstName>
                <middleName>William</middleName>
                <lastName>Torvaney</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>Le Rond Point</street1>
                <street2>Le Pont du Val</street2>
                <city>St. Brelade</city>
                <stateOrCountry>Y9</stateOrCountry>
                <zipCode>JE3 8JP</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Gustav</firstName>
                <lastName>Meyer</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>La Rue de la Ville au Neveu</street1>
                <street2>Northdale</street2>
                <city>St. Ouen</city>
                <stateOrCountry>Y9</stateOrCountry>
                <zipCode>JE3 2DU</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
        </relatedPersonInfo>
    </relatedPersonsList>

    <offeringData>
        <industryGroup>
            <industryGroupType>Pooled Investment Fund</industryGroupType>
            <investmentFundInfo>
                <investmentFundType>Hedge Fund</investmentFundType>
                <is40Act>false</is40Act>
            </investmentFundInfo>
        </industryGroup>
        <issuerSize>
            <aggregateNetAssetValueRange>Decline to Disclose</aggregateNetAssetValueRange>
        </issuerSize>
        <federalExemptionsExclusions>
            <item>06</item>
            <item>3C</item>
            <item>3C.7</item>
        </federalExemptionsExclusions>
        <typeOfFiling>
            <newOrAmendment>
                <isAmendment>true</isAmendment>
                <previousAccessionNumber>9999999997-09-013312</previousAccessionNumber>
            </newOrAmendment>
            <dateOfFirstSale>
                <value>2009-03-03</value>
            </dateOfFirstSale>
        </typeOfFiling>
        <durationOfOffering>
            <moreThanOneYear>true</moreThanOneYear>
        </durationOfOffering>
        <typesOfSecuritiesOffered>
            <isPooledInvestmentFundType>true</isPooledInvestmentFundType>
        </typesOfSecuritiesOffered>
        <businessCombinationTransaction>
            <isBusinessCombinationTransaction>false</isBusinessCombinationTransaction>
        </businessCombinationTransaction>
        <minimumInvestmentAccepted>100000</minimumInvestmentAccepted>
        <salesCompensationList>
            <recipient>
                <recipientName>SG Americas Securities, LLC</recipientName>
                <recipientCRDNumber>128351</recipientCRDNumber>
                <associatedBDName>None</associatedBDName>
                <associatedBDCRDNumber>None</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>1221 Avenue of the Americas</street1>
                    <city>New York</city>
                    <stateOrCountry>NY</stateOrCountry>
                    <zipCode>10020</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <value>All States</value>
                </statesOfSolicitationList>
            </recipient>
        </salesCompensationList>
        <offeringSalesAmounts>
            <totalOfferingAmount>Indefinite</totalOfferingAmount>
            <totalAmountSold>250000</totalAmountSold>
            <totalRemaining>Indefinite</totalRemaining>
        </offeringSalesAmounts>
        <investors>
            <hasNonAccreditedInvestors>false</hasNonAccreditedInvestors>
            <totalNumberAlreadyInvested>1</totalNumberAlreadyInvested>
        </investors>
        <salesCommissionsFindersFees>
            <salesCommissions>
                <dollarAmount>0</dollarAmount>
                <isEstimate>true</isEstimate>
            </salesCommissions>
            <findersFees>
                <dollarAmount>0</dollarAmount>
            </findersFees>
            <clarificationOfResponse>SG Americas Securities, LLC is paid a continuing fee, out of the administrative fee, based on the fund's net asset value (&quot;NAV&quot;). That fee is currently set at up to 0.95% of NAV. As NAV may vary considerably, the fee's amount is not presently calculable.</clarificationOfResponse>
        </salesCommissionsFindersFees>
        <useOfProceeds>
            <grossProceedsUsed>
                <dollarAmount>0</dollarAmount>
                <isEstimate>true</isEstimate>
            </grossProceedsUsed>
            <clarificationOfResponse>The majority of the Lyxor funds' directors are employees of the funds' manager and are not paid to act as directors.  The only two paid directors are paid by the funds' manager for the overall funds of the Lyxor platform and not by each individual fund.</clarificationOfResponse>
        </useOfProceeds>
        <signatureBlock>
            <authorizedRepresentative>true</authorizedRepresentative>
            <signature>
                <issuerName>Lyxor/Selectium Europe Fund Ltd</issuerName>
                <signatureName>/s/ Robert O'Connell</signatureName>
                <nameOfSigner>Robert O'Connell</nameOfSigner>
                <signatureTitle>Attorney-in-Fact</signatureTitle>
                <signatureDate>2010-02-17</signatureDate>
            </signature>
        </signatureBlock>
    </offeringData>
</edgarSubmission>
