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

    <schemaVersion>X0704</schemaVersion>

    <submissionType>D/A</submissionType>

    <testOrLive>LIVE</testOrLive>

    <primaryIssuer>
        <cik>0001475215</cik>
        <entityName>Lyxor Premium LLC</entityName>
        <issuerAddress>
            <street1>1251 AVENUE OF THE AMERICAS</street1>
            <street2>46TH FLOOR</street2>
            <city>NEW YORK</city>
            <stateOrCountry>NY</stateOrCountry>
            <stateOrCountryDescription>NEW YORK</stateOrCountryDescription>
            <zipCode>10020</zipCode>
        </issuerAddress>
        <issuerPhoneNumber>212-205-4100</issuerPhoneNumber>
        <jurisdictionOfInc>DELAWARE</jurisdictionOfInc>
        <issuerPreviousNameList>
            <previousName>TCW/SG AM AI Premium LLC</previousName>
        </issuerPreviousNameList>
        <edgarPreviousNameList>
            <value>None</value>
        </edgarPreviousNameList>
        <entityType>Limited Liability Company</entityType>
        <yearOfInc>
            <withinFiveYears>true</withinFiveYears>
            <value>2006</value>
        </yearOfInc>
    </primaryIssuer>

    <relatedPersonsList>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>n/a</firstName>
                <lastName>Lyxor Asset Management Inc.</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>1251 Avenue of the Americas</street1>
                <street2>46th Floor</street2>
                <city>New York</city>
                <stateOrCountry>NY</stateOrCountry>
                <stateOrCountryDescription>NEW YORK</stateOrCountryDescription>
                <zipCode>10020</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Manager</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Lior</firstName>
                <lastName>Segev</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>c/o Lyxor Asset Management Inc.</street1>
                <street2>1251 Avenue of the Americas, 46th Floor</street2>
                <city>New York</city>
                <stateOrCountry>NY</stateOrCountry>
                <stateOrCountryDescription>NEW YORK</stateOrCountryDescription>
                <zipCode>10020</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Chief Legal Officer and Secretary of the Manager</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Carl</firstName>
                <lastName>Eifler</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>c/o Lyxor Asset Management Inc.</street1>
                <street2>1251 Avenue of the Americas, 46th Floor</street2>
                <city>New York</city>
                <stateOrCountry>NY</stateOrCountry>
                <stateOrCountryDescription>NEW YORK</stateOrCountryDescription>
                <zipCode>10020</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Chief Operating Officer of the Manager</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Ed</firstName>
                <lastName>Piekarski</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>c/o Lyxor Asset Management Inc.</street1>
                <street2>1251 Avenue of the Americas, 46th Floor</street2>
                <city>New York</city>
                <stateOrCountry>NY</stateOrCountry>
                <stateOrCountryDescription>NEW YORK</stateOrCountryDescription>
                <zipCode>10020</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Chief Financial Officer of the Manager</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Dennis</firstName>
                <lastName>Heskel</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>c/o Lyxor Asset Management Inc.</street1>
                <street2>1251 Avenue of the Americas, 46th Floor</street2>
                <city>New York</city>
                <stateOrCountry>NY</stateOrCountry>
                <stateOrCountryDescription>NEW YORK</stateOrCountryDescription>
                <zipCode>10020</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Head of Research of the Manager</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Laurent</firstName>
                <lastName>Seyer</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>c/o Lyxor Asset Management S.A.</street1>
                <street2>17, Cours Valmy</street2>
                <city>Paris, La Defense</city>
                <stateOrCountry>I0</stateOrCountry>
                <stateOrCountryDescription>FRANCE</stateOrCountryDescription>
                <zipCode>7</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Director of the Manager</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Francois</firstName>
                <lastName>Barthelemy</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>c/o Societe Generale</street1>
                <street2>1221 Avenue of the Americas, 12th Floor</street2>
                <city>New York</city>
                <stateOrCountry>NY</stateOrCountry>
                <stateOrCountryDescription>NEW YORK</stateOrCountryDescription>
                <zipCode>10020</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Director of the Manager</relationshipClarification>
        </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>0001475215-10-000001</previousAccessionNumber>
            </newOrAmendment>
            <dateOfFirstSale>
                <value>2009-10-01</value>
            </dateOfFirstSale>
        </typeOfFiling>
        <durationOfOffering>
            <moreThanOneYear>true</moreThanOneYear>
        </durationOfOffering>
        <typesOfSecuritiesOffered>
            <isPooledInvestmentFundType>true</isPooledInvestmentFundType>
            <isOtherType>true</isOtherType>
            <descriptionOfOtherType>Limited Liability Company Interests</descriptionOfOtherType>
        </typesOfSecuritiesOffered>
        <businessCombinationTransaction>
            <isBusinessCombinationTransaction>false</isBusinessCombinationTransaction>
            <clarificationOfResponse></clarificationOfResponse>
        </businessCombinationTransaction>
        <minimumInvestmentAccepted>250000</minimumInvestmentAccepted>
        <salesCompensationList>
            <recipient>
                <recipientName>n/a</recipientName>
                <recipientCRDNumber>None</recipientCRDNumber>
                <associatedBDName>None</associatedBDName>
                <associatedBDCRDNumber>None</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>n/a</street1>
                    <city>n/a</city>
                    <stateOrCountry>XX</stateOrCountry>
                    <stateOrCountryDescription>Unknown</stateOrCountryDescription>
                    <zipCode>00000</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <value>All States</value>
                </statesOfSolicitationList>
                <foreignSolicitation>false</foreignSolicitation>
            </recipient>
        </salesCompensationList>
        <offeringSalesAmounts>
            <totalOfferingAmount>Indefinite</totalOfferingAmount>
            <totalAmountSold>25002000</totalAmountSold>
            <totalRemaining>Indefinite</totalRemaining>
            <clarificationOfResponse></clarificationOfResponse>
        </offeringSalesAmounts>
        <investors>
            <hasNonAccreditedInvestors>false</hasNonAccreditedInvestors>
            <totalNumberAlreadyInvested>2</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>Lyxor Premium LLC</issuerName>
                <signatureName>Lior Segev</signatureName>
                <nameOfSigner>Lior Segev</nameOfSigner>
                <signatureTitle>Secretary of the Manager</signatureTitle>
                <signatureDate>2010-10-06</signatureDate>
            </signature>
        </signatureBlock>
    </offeringData>
</edgarSubmission>
