-----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,
 N4hxY6gConxvZhuvDXDMdXKYeQw98pYLw7DlFAYoP01JCkU/PNnjlamVkkYQdG3T
 Gw15UxBQph9tC1rn5VpcOQ==

<SEC-DOCUMENT>0001140361-03-002231.txt : 20030630
<SEC-HEADER>0001140361-03-002231.hdr.sgml : 20030630
<ACCEPTANCE-DATETIME>20030630151219
ACCESSION NUMBER:		0001140361-03-002231
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20030515
FILED AS OF DATE:		20030630

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			YARON GIORA
		CENTRAL INDEX KEY:			0001179290

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-22350
		FILM NUMBER:		03764069

	BUSINESS ADDRESS:	
		STREET 1:		C/O MERCURY INTERACTIVE
		STREET 2:		1325 BORREGAS AVENUE
		CITY:			SUNNYVALE
		STATE:			CA
		ZIP:			94089

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MERCURY INTERACTIVE CORPORATION
		CENTRAL INDEX KEY:			0000867058
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-PREPACKAGED SOFTWARE [7372]
		IRS NUMBER:				770224776
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		1325 BORREGAS AVE
		CITY:			SUNNYVALE
		STATE:			CA
		ZIP:			94089
		BUSINESS PHONE:		4088225200

	MAIL ADDRESS:	
		STREET 1:		1325 BORREGAS AVENUE
		CITY:			SUNNYVALE
		STATE:			CA
		ZIP:			94089
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>doc1.xml
<DESCRIPTION>FORM 4
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>
    <schemaVersion>X0101</schemaVersion>

    <documentType>4</documentType>
<periodOfReport>2003-05-15</periodOfReport>
<notSubjectToSection16>0</notSubjectToSection16>
    <issuer>
        <issuerCik>0000867058</issuerCik>
        <issuerName>MERCURY INTERACTIVE CORPORATION</issuerName>
        <issuerTradingSymbol>MERQ</issuerTradingSymbol>
</issuer>
<reportingOwner>
<reportingOwnerId>
            <rptOwnerCik>0001179290</rptOwnerCik>
            <rptOwnerName>YARON GIORA</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>  </rptOwnerStreet1>
            <rptOwnerStreet2>  </rptOwnerStreet2>
            <rptOwnerCity>  </rptOwnerCity>
            <rptOwnerState>  </rptOwnerState>
            <rptOwnerZipCode>  </rptOwnerZipCode>
        </reportingOwnerAddress>
            <reportingOwnerRelationship>
<isDirector>1</isDirector>
<isOfficer>0</isOfficer>
<isTenPercentOwner>0</isTenPercentOwner>
<isOther>0</isOther>
<officerTitle></officerTitle>
<otherText></otherText>
</reportingOwnerRelationship>
</reportingOwner>
<derivativeSecurity>
<securityTitle>
<value>Directors&amp;apos; Stock Option</value>
</securityTitle>
<conversionOrExercisePrice>
<value>37.44</value>
</conversionOrExercisePrice>
<transactionDate>
<value>2003-05-15</value>
</transactionDate>
<transactionCoding>
<transactionFormType>4</transactionFormType>
<transactionCode>A</transactionCode>
<equitySwapInvolved>0</equitySwapInvolved>
</transactionCoding>
<transactionTimeliness>
<value></value>
</transactionTimeliness>
<transactionAmounts>
<transactionShares>
<value>10000</value>
</transactionShares>
<transactionValue>
<value>0</value>
</transactionValue>
<transactionAcquiredDisposedCode>
<value>A</value>
</transactionAcquiredDisposedCode>
</transactionAmounts>
<exerciseDate>
<value>2008-05-15</value>
<footnoteId id="F1"/>
</exerciseDate>
<expirationDate>
<value>2013-05-15</value>
</expirationDate>
<underlyingSecurity>
<underlyingSecurityTitle>
<value>Common Stock</value>
</underlyingSecurityTitle>
<underlyingSecurityShares>
<value>10000</value>
</underlyingSecurityShares>
</underlyingSecurity>
<postTransactionAmounts>
<sharesOwnedFollowingTransaction>
<value>113000</value>
</sharesOwnedFollowingTransaction>
</postTransactionAmounts>
<ownershipNature>
<directOrIndirectOwnership>
<value>D</value>
</directOrIndirectOwnership>
<natureOfOwnership>
<value></value>
</natureOfOwnership>
</ownershipNature>
</derivativeSecurity>
<footnotes>
<footnote id="F1">Shares subject to option become exercisable on the fifth annual meeting of the stockholders to occur after the date of grant.</footnote>
</footnotes>
<ownerSignature>
<signatureName>Susan J. Skaer, Attorney in fact for Giora Yaron</signatureName>
<signatureDate>2003-06-30</signatureDate>
</ownerSignature>
</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----