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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,
 EagEQYZJxLGLfo76jkRGhiwvf/1AU+SkqrQIpa1w6jFK0E9/ARSyBYo/2BGICEOz
 LQzlcgAo3z0i04HLvqA0kw==

<SEC-DOCUMENT>0000097745-03-000177.txt : 20031121
<SEC-HEADER>0000097745-03-000177.hdr.sgml : 20031121
<ACCEPTANCE-DATETIME>20031121142543
ACCESSION NUMBER:		0000097745-03-000177
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20031119
FILED AS OF DATE:		20031121

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			CASPER MARC N
		CENTRAL INDEX KEY:			0001216055

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-08002
		FILM NUMBER:		031017702

	MAIL ADDRESS:	
		STREET 1:		81 WYMAN ST
		STREET 2:		PO BOX 9046
		CITY:			WALTHAM
		STATE:			MA
		ZIP:			02454

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>cas174.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>
    <schemaVersion>X0201</schemaVersion>

    <documentType>4</documentType>
	<periodOfReport>2003-11-19</periodOfReport>
	<notSubjectToSection16>0</notSubjectToSection16>
    <issuer>
        <issuerCik>0000097745</issuerCik>
        <issuerName>THERMO ELECTRON CORP</issuerName>
        <issuerTradingSymbol>TMO</issuerTradingSymbol>
	</issuer>
	<reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001216055</rptOwnerCik>
            <rptOwnerName>CASPER MARC N</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>0</isDirector>
			<isOfficer>1</isOfficer>
			<isTenPercentOwner>0</isTenPercentOwner>
			<isOther>0</isOther>
			<officerTitle>Senior Vice President</officerTitle>
		</reportingOwnerRelationship>
	</reportingOwner>
	<derivativeTable>
		<derivativeTransaction>
			<securityTitle>
				<value>Restricted Stock Units</value>
			</securityTitle>
			<conversionOrExercisePrice>
				<value>0.00</value>
				<footnoteId id="F1"/>
			</conversionOrExercisePrice>
			<transactionDate>
				<value>2003-11-19</value>
			</transactionDate>
			<deemedExecutionDate>
			</deemedExecutionDate>
			<transactionCoding>
				<transactionFormType>4</transactionFormType>
				<transactionCode>A</transactionCode>
				<equitySwapInvolved>0</equitySwapInvolved>
			</transactionCoding>
			<transactionAmounts>
				<transactionShares>
					<value>30000</value>
				</transactionShares>
				<transactionPricePerShare>
					<value>0</value>
				</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>30000.00</value>
				</underlyingSecurityShares>
			</underlyingSecurity>
			<postTransactionAmounts>
				<sharesOwnedFollowingTransaction>
					<value>30000.00</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">The Restricted Stock Units vest in three equal annual installments beginning on November 19, 2004, provided, however, the units do not become Common Stock nor may the Reporting Person sell or otherwise dispose of the shares until his termination of employment.</footnote>
	</footnotes>
	<ownerSignature>
		<signatureName>By: Barbara J. Lucas, Attorney-in-Fact for M. Casper</signatureName>
		<signatureDate>2003-11-21</signatureDate>
	</ownerSignature>
</ownershipDocument>

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