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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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<SEC-DOCUMENT>0000097745-03-000151.txt : 20030930
<SEC-HEADER>0000097745-03-000151.hdr.sgml : 20030930
<ACCEPTANCE-DATETIME>20030930143751
ACCESSION NUMBER:		0000097745-03-000151
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20030927
FILED AS OF DATE:		20030930

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			ULLIAN ELAINE
		CENTRAL INDEX KEY:			0001190290

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-08002
		FILM NUMBER:		03917280

	MAIL ADDRESS:	
		STREET 1:		C/O HOLOGIE INC
		STREET 2:		35 CROSBY DRIVE
		CITY:			BEDFORD
		STATE:			MA
		ZIP:			01730

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			THERMO ELECTRON CORP
		CENTRAL INDEX KEY:			0000097745
		STANDARD INDUSTRIAL CLASSIFICATION:	MEASURING & CONTROLLING DEVICES, NEC [3829]
		IRS NUMBER:				042209186
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		81 WYMAN ST
		STREET 2:		PO BOX 9046
		CITY:			WALTHAM
		STATE:			MA
		ZIP:			02451
		BUSINESS PHONE:		7816221000

	MAIL ADDRESS:	
		STREET 1:		81 WYMAN ST
		STREET 2:		PO BOX 9046
		CITY:			WALTHAM
		STATE:			MA
		ZIP:			02451
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>ull158.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>
    <schemaVersion>X0201</schemaVersion>

    <documentType>4</documentType>
	<periodOfReport>2003-09-27</periodOfReport>
	<notSubjectToSection16>0</notSubjectToSection16>
    <issuer>
        <issuerCik>0000097745</issuerCik>
        <issuerName>THERMO ELECTRON CORP</issuerName>
        <issuerTradingSymbol>TMO</issuerTradingSymbol>
	</issuer>
	<reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001190290</rptOwnerCik>
            <rptOwnerName>ULLIAN ELAINE</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>81 WYMAN STREET</rptOwnerStreet1>
            <rptOwnerStreet2>P.O. BOX 9046</rptOwnerStreet2>
            <rptOwnerCity>WALTHAM</rptOwnerCity>
            <rptOwnerState>MA</rptOwnerState>
            <rptOwnerZipCode>024549046</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
            <reportingOwnerRelationship>
			<isDirector>1</isDirector>
			<isOfficer>0</isOfficer>
			<isTenPercentOwner>0</isTenPercentOwner>
			<isOther>0</isOther>
		</reportingOwnerRelationship>
	</reportingOwner>
	<derivativeTable>
		<derivativeTransaction>
			<securityTitle>
				<value>Phantom Stock Units</value>
			</securityTitle>
			<conversionOrExercisePrice>
				<value>0.00</value>
				<footnoteId id="F1"/>
			</conversionOrExercisePrice>
			<transactionDate>
				<value>2003-09-27</value>
			</transactionDate>
			<deemedExecutionDate>
			</deemedExecutionDate>
			<transactionCoding>
				<transactionFormType>4</transactionFormType>
				<transactionCode>A</transactionCode>
				<equitySwapInvolved>0</equitySwapInvolved>
			</transactionCoding>
			<transactionAmounts>
				<transactionShares>
					<value>821.86</value>
				</transactionShares>
				<transactionPricePerShare>
					<value>0</value>
					<footnoteId id="F2"/>
				</transactionPricePerShare>
				<transactionAcquiredDisposedCode>
					<value>A</value>
				</transactionAcquiredDisposedCode>
			</transactionAmounts>
			<exerciseDate>
				<footnoteId id="F2"/>
			</exerciseDate>
			<expirationDate>
				<footnoteId id="F2"/>
			</expirationDate>
			<underlyingSecurity>
				<underlyingSecurityTitle>
					<value>Common Stock</value>
				</underlyingSecurityTitle>
				<underlyingSecurityShares>
					<value>821.86</value>
				</underlyingSecurityShares>
			</underlyingSecurity>
			<postTransactionAmounts>
				<sharesOwnedFollowingTransaction>
					<value>5507.97</value>
				</sharesOwnedFollowingTransaction>
			</postTransactionAmounts>
			<ownershipNature>
				<directOrIndirectOwnership>
					<value>D</value>
				</directOrIndirectOwnership>
				<natureOfOwnership>
					<value/>
				</natureOfOwnership>
			</ownershipNature>
		</derivativeTransaction>
	</derivativeTable>
	<footnotes>
		<footnote id="F1">Convertible into Common Stock on a 1-for-1 basis.</footnote>
		<footnote id="F2">Represents stock units credited to the Reporting Person's account as of September 27, 2003, at a price of $22.51 per unit pursuant to the Issuer's exempt Deferred Compensation Plan for Directors (the 'Plan').  Director's fees and retainers are deferred quarterly under the Plan as Common Stock based on the average closing price of the stock for the 5 days prior to the end of the quarter and are distributable as stock upon cessation of director service, death, retirement or a change of control.</footnote>
	</footnotes>
	<remarks>
	</remarks>
	<ownerSignature>
		<signatureName>By: Barbara J. Lucas, Attorney-in-Fact for E. Ullian</signatureName>
		<signatureDate>2003-09-30</signatureDate>
	</ownerSignature>
</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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