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

    <schemaVersion>X0206</schemaVersion>

    <documentType>3</documentType>

    <periodOfReport>2016-05-19</periodOfReport>

    <noSecuritiesOwned>1</noSecuritiesOwned>

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

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001675437</rptOwnerCik>
            <rptOwnerName>Woodworth Douglas</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>
            <isOfficer>1</isOfficer>
            <officerTitle>Chief Financial Officer</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable></nonDerivativeTable>

    <derivativeTable></derivativeTable>

    <footnotes></footnotes>

    <ownerSignature>
        <signatureName>/s/ Douglas B. Woodworth</signatureName>
        <signatureDate>2016-05-26</signatureDate>
    </ownerSignature>
</ownershipDocument>
