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

    <schemaVersion>X0306</schemaVersion>

    <documentType>5</documentType>

    <periodOfReport>2013-12-31</periodOfReport>

    <form3HoldingsReported>0</form3HoldingsReported>

    <form4TransactionsReported>1</form4TransactionsReported>

    <issuer>
        <issuerCik>0000709804</issuerCik>
        <issuerName>Steel Excel Inc.</issuerName>
        <issuerTradingSymbol>SXCL</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001179588</rptOwnerCik>
            <rptOwnerName>QUICKE JOHN J</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>1133 WESTCHESTER AVENUE</rptOwnerStreet1>
            <rptOwnerStreet2>SUITE N222</rptOwnerStreet2>
            <rptOwnerCity>WHITE PLAINS</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10604</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOther>1</isOther>
            <otherText>See Explanation of Responses</otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock, $.001 Par Value</value>
            </securityTitle>
            <transactionDate>
                <value>2013-05-21</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>2500.0000</value>
                    <footnoteId id="F1"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0.0000</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>33125.0000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                    <footnoteId id="F2"/>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <derivativeTable></derivativeTable>

    <footnotes>
        <footnote id="F1">Represents an award of restricted stock units from the Issuer's 2004 Equity Incentive Plan for 2,500 shares of common stock that will be fully vested on the earlier of May 21, 2014 or the date on which the director ceases to be a member of the Issuer's board of directors for any reason.</footnote>
        <footnote id="F2">The Reporting Person is also a member of a Section 13(d) group that owns more than 10% of the Issuer's outstanding common stock.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ John J. Quicke</signatureName>
        <signatureDate>2014-02-05</signatureDate>
    </ownerSignature>
</ownershipDocument>
