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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,
 URdxbstdmBncWKH2+qz32Tm5VdLKdTcY5xvKz1CrDnK6s5CKSsuMd/x8Vqm1fkPo
 efjT8hLPCjFbVjSYOiB5PQ==

<SEC-DOCUMENT>0001181431-08-021963.txt : 20080331
<SEC-HEADER>0001181431-08-021963.hdr.sgml : 20080331
<ACCEPTANCE-DATETIME>20080331145741
ACCESSION NUMBER:		0001181431-08-021963
CONFORMED SUBMISSION TYPE:	3
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20080331
FILED AS OF DATE:		20080331
DATE AS OF CHANGE:		20080331

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:			Osvaldo Gimenez
		CENTRAL INDEX KEY:			0001430953

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-33647
		FILM NUMBER:		08723895

	BUSINESS ADDRESS:	
		BUSINESS PHONE:		011-54-5352-8000

	MAIL ADDRESS:	
		STREET 1:		TRONADOR 4890, 8TH FLOOR
		CITY:			BUENOS AIRES
		STATE:			C1
		ZIP:			C1430DNN
</SEC-HEADER>
<DOCUMENT>
<TYPE>3
<SEQUENCE>1
<FILENAME>rrd201465.xml
<DESCRIPTION>FORM 3
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>3</documentType>

    <periodOfReport>2008-03-31</periodOfReport>

    <noSecuritiesOwned>0</noSecuritiesOwned>

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

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001430953</rptOwnerCik>
            <rptOwnerName>Osvaldo Gimenez</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>TRONADOR 4980</rptOwnerStreet1>
            <rptOwnerStreet2>8TH FLOOR</rptOwnerStreet2>
            <rptOwnerCity>BUENOS AIRES</rptOwnerCity>
            <rptOwnerState>C1</rptOwnerState>
            <rptOwnerZipCode>430DNN</rptOwnerZipCode>
            <rptOwnerStateDescription>ARGENTINA</rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>SR Vice Pres - MercadoPago</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>59687</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By Osvaldo Gimenez as beneficiary of the Revocable Osvaldo Gimenez Family Trust</value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <derivativeTable>
        <derivativeHolding>
            <securityTitle>
                <value>Options to Purchase Common Stock</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>1.50</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <footnoteId id="F1"/>
            </exerciseDate>
            <expirationDate>
                <value>2014-07-01</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>10313</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">Options to purchase 8,438 shares of common stock are vested; Options to purchase 937 shares of common stock and 938 shares of common stock will vest on April 1, 2008 and July 1, 2008, respectively.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Trevor K. Ross (attorney-in-fact)</signatureName>
        <signatureDate>2008-03-31</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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