Rule 424(B)(3)
                                Registration No. 33-33253
PRICING SUPPLEMENT NO. 7 DATED MAY 2, 1995
TO PROSPECTUS DATED APRIL 21,1995 AND PROSPECTUS SUPPLEMENT DATED APRIL 21, 1995

             THE QUAKER OATS COMPANY
            MEDIUM TERM NOTES, SERIES D
              (FIXED RATE)
____________________________________________________________________________
Principal Amount: $8,350,000            Issue Date: MAY 9, 1995 
Issue Price: 100%                  Stated Maturity: MAY 11, 1998
Commission of Selling Agents: $29,225  Specified Currency:  U.S. Dollars
Net Proceeds to Issuer: $8,320,775         Form:     __X_Global 
Interest Rate: 7.07%                                 ___Certificated
Selling Agents: GOLDMAN SACHS
Trade Date: MAY 2, 1995
____________________________________________________________________________

Interest Payment Dates:                      Amortizing Notes:
  _X__As specified in Prospectus Supplement  ____Yes
  ____Other (specify)________________        _X__No
Regular Record Date:                    Each payment of principal of,
  _X__As specified in Prospectus Supplement  and interest on, the Notes will
  ____Other (specify)________________        be made: ____Quarterly
Original Issue Discount Note:                   ____Semiannually
  ____Yes _X__No
Original Issue Discount: __________%         Interest rate may be reset:
Yield to Maturity: _________%                 ____Yes _X__No 
                                             Terms of reset:
Repurchase Price (for Discount Securities): Redemption Information:

Other Provisions:                          Repayment Information:

____________________________________________________________________________
The aggregate principal amount of this offering is U.S. $8,350,000 and
relates  only  to  Pricing Supplement No. 7.  Medium-Term  Notes, Series D,
may be issued by the Company in the aggregate principal amount of up to U.S.
$400,000,000 or the equivalent in foreign currencies or foreign currency
units.   To date, including this offering, an aggregate of U.S. $50,000,000 or
the  equivalent in foreign currency or foreign currency units  of Medium-Term
Notes, Series D, have been issued.

____________________________________________________________________________

TYPE OF SALE:             IF PRINCIPAL TRANSACTION, REOFFERING AT:
X_____As Agent            ____varying prices  related to prevailing
_______As Principal       market prices at the time of resale 
                          ____fixed public offering price
                          of ________% of Principal Amount
____________________________________________________________________________

[Insert additional tax disclosure, if necessary]