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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 CrvFsk/oUgkEUTEAECwin+7iHJ0U0fDL3L1fkB41qqueHZnQBChyPDXKLn2qCRJ7
 xHepE4EU1ZV3JGNwOD+BjA==

<SEC-DOCUMENT>0001225208-08-015751.txt : 20081002
<SEC-HEADER>0001225208-08-015751.hdr.sgml : 20081002
<ACCEPTANCE-DATETIME>20081002200044
ACCESSION NUMBER:		0001225208-08-015751
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20080930
FILED AS OF DATE:		20081002
DATE AS OF CHANGE:		20081002

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			WALT DISNEY CO/
		CENTRAL INDEX KEY:			0001001039
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-MISCELLANEOUS AMUSEMENT & RECREATION [7990]
		IRS NUMBER:				954545390
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0929

	BUSINESS ADDRESS:	
		STREET 1:		500 SOUTH BUENA VISTA ST
		CITY:			BURBANK
		STATE:			CA
		ZIP:			91521
		BUSINESS PHONE:		8185601000

	MAIL ADDRESS:	
		STREET 1:		500 SOUTH BUENA VISTA ST
		CITY:			BURBANK
		STATE:			CA
		ZIP:			91521

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DC HOLDCO INC
		DATE OF NAME CHANGE:	19950918

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			LEWIS AYLWIN B
		CENTRAL INDEX KEY:			0001211695

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-11605
		FILM NUMBER:		081105098

	MAIL ADDRESS:	
		STREET 1:		1441 GARDINER LANE
		CITY:			LOUISVILLE
		STATE:			KY
		ZIP:			40213
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>doc4.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0303</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2008-09-30</periodOfReport>

    <issuer>
        <issuerCik>0001001039</issuerCik>
        <issuerName>WALT DISNEY CO/</issuerName>
        <issuerTradingSymbol>DIS</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001211695</rptOwnerCik>
            <rptOwnerName>LEWIS AYLWIN B</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>SEARS HOLDING CORPORATION</rptOwnerStreet1>
            <rptOwnerStreet2>3333 BEVERLY ROAD</rptOwnerStreet2>
            <rptOwnerCity>HOFFMAN ESTATES</rptOwnerCity>
            <rptOwnerState>IL</rptOwnerState>
            <rptOwnerZipCode>60179</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Disney Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2008-09-30</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>1037.5</value>
                    <footnoteId id="F1"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>32.29</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>17214.29</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <derivativeTable></derivativeTable>

    <footnotes>
        <footnote id="F1">387.1 of such stock units have been credited to the reporting person's account under The Walt Disney Company's Amended and Restated 1997 Non-Employee Directors Stock and Deferred Compensation Plan (or the 2005 Stock Incentive Plan, as successor plan thereto), pursuant to the elective deferral provisions of the Plan.  An additional 650.4 stock units were credited as a quarterly grant under the Plan, as described in the Company's compensation policy for non-employee directors.</footnote>
    </footnotes>

    <remarks></remarks>

    <ownerSignature>
        <signatureName>Joseph M. Santaniello (POA on file)</signatureName>
        <signatureDate>2008-10-02</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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