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  <schemaVersion>X0202</schemaVersion>
  <headerData>
    <submissionType>13F-HR</submissionType>
    <filerInfo>
      <liveTestFlag>LIVE</liveTestFlag>
      <filer>
        <credentials>
          <cik>0001478735</cik>
          <ccc>XXXXXXXX</ccc>
        </credentials>
      </filer>
      <periodOfReport>09-30-2025</periodOfReport>
    </filerInfo>
  </headerData>
  <formData>
    <coverPage>
      <reportCalendarOrQuarter>09-30-2025</reportCalendarOrQuarter>
      <isAmendment>false</isAmendment>
      <filingManager>
        <name>TWO SIGMA ADVISERS, LP</name>
        <address>
          <com:street1>100 AVENUE OF THE AMERICAS</com:street1>
          <com:street2>16TH FLOOR</com:street2>
          <com:city>NEW YORK</com:city>
          <com:stateOrCountry>NY</com:stateOrCountry>
          <com:zipCode>10013</com:zipCode>
        </address>
      </filingManager>
      <reportType>13F HOLDINGS REPORT</reportType>
      <form13FFileNumber>028-14367</form13FFileNumber>
      <crdNumber>000152254</crdNumber>
      <secFileNumber>801-71110</secFileNumber>
      <provideInfoForInstruction5>Y</provideInfoForInstruction5>
      <additionalInformation>This Form 13F holdings report is being filed on behalf of Two Sigma Advisers, LP ("Advisers"). Advisers serves as the sole manager or investment manager, as applicable, of (i) Two Sigma Absolute Return Portfolio, LLC ("Absolute Return"), Two Sigma Active Extension U.S. All Cap Equity Portfolio, LLC ("Active Extension All Cap"), Two Sigma Active Extension U.S. Small Cap Equity Fund, LP ("Active Extension Small Cap"), Two Sigma World Core Fund, LP ("World Core") and Two Sigma Equity Risk Premia Portfolio, LLC ("Equity Risk Premia"), five investment entities that are managed by Advisers, each of which may be deemed to be an "other manager" for purposes of this Form 13F report, (ii) Two Sigma International Core Portfolio, LLC ("International Core") and Two Sigma Macro Risk Premia Portfolio, LLC ("Macro Risk Premia"), two investment entities that are managed by Advisers and that may not presently be deemed to be an "other manager" for purposes of this Form 13F report and (iii) one or more separately managed accounts and sub-advised accounts (collectively, the "Managed Accounts"), each of which may not presently be deemed to be an "other manager" for purposes of this 13F report. Advisers, rather than Absolute Return, Active Extension All Cap, Active Extension Small Cap, World Core, Equity Risk Premia, International Core, Macro Risk Premia or the Managed Accounts, exercises sole investment discretion and voting authority over the securities held in the various accounts of Absolute Return, Active Extension All Cap, Active Extension Small Cap, World Core, Equity Risk Premia, International Core, Macro Risk Premia and in the Managed Accounts.</additionalInformation>
    </coverPage>
    <signatureBlock>
      <name>Steve H. Metzger</name>
      <title>General Counsel</title>
      <phone>212-625-5700</phone>
      <signature>/s/ Steve H. Metzger</signature>
      <city>New York</city>
      <stateOrCountry>NY</stateOrCountry>
      <signatureDate>11-14-2025</signatureDate>
    </signatureBlock>
    <summaryPage>
      <otherIncludedManagersCount>5</otherIncludedManagersCount>
      <tableEntryTotal>2311</tableEntryTotal>
      <tableValueTotal>49970581500</tableValueTotal>
      <otherManagers2Info>
        <otherManager2>
          <sequenceNumber>1</sequenceNumber>
          <otherManager>
            <cik>0001569734</cik>
            <form13FFileNumber>028-15367</form13FFileNumber>
            <name>TWO SIGMA ABSOLUTE RETURN PORTFOLIO, LLC</name>
          </otherManager>
        </otherManager2>
        <otherManager2>
          <sequenceNumber>2</sequenceNumber>
          <otherManager>
            <cik>0001569731</cik>
            <form13FFileNumber>028-15404</form13FFileNumber>
            <name>TWO SIGMA ACTIVE EXTENSION U.S. ALL CAP EQUITY PORTFOLIO, LLC</name>
          </otherManager>
        </otherManager2>
        <otherManager2>
          <sequenceNumber>3</sequenceNumber>
          <otherManager>
            <cik>0001559804</cik>
            <form13FFileNumber>028-15364</form13FFileNumber>
            <name>Two Sigma Active Extension U.S. Small Cap Equity Fund, LP</name>
          </otherManager>
        </otherManager2>
        <otherManager2>
          <sequenceNumber>4</sequenceNumber>
          <otherManager>
            <cik>0001667002</cik>
            <form13FFileNumber>028-17346</form13FFileNumber>
            <name>Two Sigma Equity Risk Premia Portfolio, LLC</name>
          </otherManager>
        </otherManager2>
        <otherManager2>
          <sequenceNumber>5</sequenceNumber>
          <otherManager>
            <cik>0001630305</cik>
            <form13FFileNumber>028-17350</form13FFileNumber>
            <name>Two Sigma World Core Fund, LP</name>
          </otherManager>
        </otherManager2>
      </otherManagers2Info>
    </summaryPage>
  </formData>
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