-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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<SEC-DOCUMENT>0000059478-04-000162.txt : 20041008
<SEC-HEADER>0000059478-04-000162.hdr.sgml : 20041008
<ACCEPTANCE-DATETIME>20041008115606
ACCESSION NUMBER:		0000059478-04-000162
CONFORMED SUBMISSION TYPE:	3
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20041001
FILED AS OF DATE:		20041008
DATE AS OF CHANGE:		20041008

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Connelly Deirdre P
		CENTRAL INDEX KEY:			0001303417

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-06351
		FILM NUMBER:		041071544

	BUSINESS ADDRESS:	
		BUSINESS PHONE:		317-276-2000

	MAIL ADDRESS:	
		STREET 1:		LILLY CORPORATE CENTER
		CITY:			INDIANAPOLIS
		STATE:			IN
		ZIP:			46285

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			LILLY ELI & CO
		CENTRAL INDEX KEY:			0000059478
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		IRS NUMBER:				350470950
		STATE OF INCORPORATION:			IN
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		LILLY CORPORATE CTR
		STREET 2:		DROP CODE 1112
		CITY:			INDIANAPOLIS
		STATE:			IN
		ZIP:			46285
		BUSINESS PHONE:		3172762000

	MAIL ADDRESS:	
		STREET 1:		LILLY CORPORATE CENTER
		STREET 2:		DROP CODE 1112
		CITY:			INDIANAPOLIS
		STATE:			IN
		ZIP:			46285
</SEC-HEADER>
<DOCUMENT>
<TYPE>3
<SEQUENCE>1
<FILENAME>doc3.xml
<DESCRIPTION>PRIMARY DOCUMENT
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>3</documentType>

    <periodOfReport>2004-10-01</periodOfReport>

    <noSecuritiesOwned>0</noSecuritiesOwned>

    <issuer>
        <issuerCik>0000059478</issuerCik>
        <issuerName>LILLY ELI &amp; CO</issuerName>
        <issuerTradingSymbol>LLY</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001303417</rptOwnerCik>
            <rptOwnerName>Connelly Deirdre P</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>LILLY CORPORATE CENTERLILLY CORPORATE CE</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>INDIANAPOLIS</rptOwnerCity>
            <rptOwnerState>IN</rptOwnerState>
            <rptOwnerZipCode>46285</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>Senior VP, Human Resources</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>3324.00</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>1305.00</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>401(k)</value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <derivativeTable>
        <derivativeHolding>
            <securityTitle>
                <value>Employee stock option (right to buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>23.4075</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>1998-10-16</value>
            </exerciseDate>
            <expirationDate>
                <value>2005-10-15</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>5600.00</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Employee stock option (right to buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>34.595</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>1999-10-21</value>
            </exerciseDate>
            <expirationDate>
                <value>2006-10-20</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>2800.00</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Employee stock option (right to buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>64.06</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>2000-10-20</value>
            </exerciseDate>
            <expirationDate>
                <value>2007-10-19</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>5700.00</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Employee stock option (right to buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>74.2813</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>2001-10-19</value>
            </exerciseDate>
            <expirationDate>
                <value>2008-10-17</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>5700.00</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Employee Stock Option (right to buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>66.375</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>2002-10-18</value>
            </exerciseDate>
            <expirationDate>
                <value>2009-10-16</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>8500.00</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Employee stock option (right to buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>73.98</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>2004-02-20</value>
            </exerciseDate>
            <expirationDate>
                <value>2011-02-18</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>12000.00</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Employee stock option (right to buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>79.28</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>2003-10-03</value>
            </exerciseDate>
            <expirationDate>
                <value>2011-10-04</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>5000.00</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Employee stock option (right to buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>75.92</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>2005-02-18</value>
            </exerciseDate>
            <expirationDate>
                <value>2012-02-17</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>10000.00</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Employee stock option (right to buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>57.85</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>2006-02-17</value>
            </exerciseDate>
            <expirationDate>
                <value>2013-02-15</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>11000.00</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Employee stock option (right to buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>73.11</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>2007-02-19</value>
            </exerciseDate>
            <expirationDate>
                <value>2014-02-14</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>12000.00</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
    </derivativeTable>

    <ownerSignature>
        <signatureName>Deirdre Connelly</signatureName>
        <signatureDate>2004-10-08</signatureDate>
    </ownerSignature>
</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-24
<SEQUENCE>2
<FILENAME>ex-24.txt
<TEXT>

Deirdre P. Connelly
Lilly Corporate Center
Indianapolis, Indiana 46285


Securities and Exchange Commission
Washington, D.C. 20549


Authorization Regarding Reporting Forms

I hereby authorize and designate the following persons to sign
and file with the Commission on my behalf Forms 4 and 5 covering
my transactions and holdings in the common stock and other equity
securities of Eli Lilly and Company as required by Section 16 of
the Securities Exchange Act of 1934 and the rules thereunder:


	Robert A. Armitage, Lilly Corporate Center, Indianapolis, Indiana
	Alecia A. DeCoudreaux, Lilly Corporate Center, Indianapolis, Indiana
	James B. Lootens, Lilly Corporate Center, Indianapolis, Indiana
	Bronwen L. Mantlo, Lilly Corporate Center, Indianapolis, Indiana

This authorization and designation shall remain in effect until a
written revocation is signed by me and provided to the Commission.


				Deirdre P. Connelly


August 23, 2004



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