-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 OJXYnNcHIa14ItTF+441NE8+vdMdBpLNc2k49qIba5gvhd15FQJ0dFdLm6O5h1nU
 WVBso/5D78H0A5L3YUsSQg==

<SEC-DOCUMENT>0001181431-08-005932.txt : 20080129
<SEC-HEADER>0001181431-08-005932.hdr.sgml : 20080129
<ACCEPTANCE-DATETIME>20080129142957
ACCESSION NUMBER:		0001181431-08-005932
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20080124
FILED AS OF DATE:		20080129
DATE AS OF CHANGE:		20080129

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MERCADOLIBRE INC
		CENTRAL INDEX KEY:			0001099590
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-BUSINESS SERVICES, NEC [7389]
		IRS NUMBER:				000000000

	BUSINESS ADDRESS:	
		STREET 1:		4890 SUBSUELO 1430 BUENOS AIRES
		CITY:			BUENOS AIRES ARGENTINA
		STATE:			C1
		ZIP:			00000
		BUSINESS PHONE:		000-000-0000

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			de los Santos Martin
		CENTRAL INDEX KEY:			0001425404

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-33647
		FILM NUMBER:		08557364

	BUSINESS ADDRESS:	
		BUSINESS PHONE:		541153528000

	MAIL ADDRESS:	
		STREET 1:		TRONADOR 4890
		CITY:			BUENOS AIRES
		STATE:			C1
		ZIP:			C1430DNN
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>rrd192264.xml
<DESCRIPTION>FORM 4
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2008-01-24</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0001099590</issuerCik>
        <issuerName>MERCADOLIBRE INC</issuerName>
        <issuerTradingSymbol>MELI</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001425404</rptOwnerCik>
            <rptOwnerName>de los Santos Martin</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>TRONADOR 4980</rptOwnerStreet1>
            <rptOwnerStreet2>8TH FLOOR</rptOwnerStreet2>
            <rptOwnerCity>BUENOS AIRES, C1430DNN</rptOwnerCity>
            <rptOwnerState>C1</rptOwnerState>
            <rptOwnerZipCode></rptOwnerZipCode>
            <rptOwnerStateDescription>ARGENTINA</rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
                <footnoteId id="F1"/>
            </securityTitle>
            <transactionDate>
                <value>2008-01-24</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>600</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>600</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">Grant of restricted common stock made pursuant to the Amended and Restated 1999 Stock Option and Restricted Stock Plan of MercadoLibre, Inc.  The restricted shares vest on the first anniversary of the award date.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Trevor K. Ross (Attorney-in-fact)</signatureName>
        <signatureDate>2008-01-29</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----