<SUBMISSION>
<ACCESSION-NUMBER>0001104659-05-037397
<TYPE>3
<PUBLIC-DOCUMENT-COUNT>1
<PERIOD>20050802
<FILING-DATE>20050808
<DATE-OF-FILING-DATE-CHANGE>20050808
<REPORTING-OWNER>
<OWNER-DATA>
<CONFORMED-NAME>OBRYAN FRANK EUGENE
<CIK>0001219289
</OWNER-DATA>
<FILING-VALUES>
<FORM-TYPE>3
<ACT>34
<FILE-NUMBER>814-00663
<FILM-NUMBER>051007303
</FILING-VALUES>
<MAIL-ADDRESS>
<STREET1>1 FIRST AMERICAN WAY
<CITY>SANTA ANA
<STATE>CA
<ZIP>92707
</MAIL-ADDRESS>
</REPORTING-OWNER>
<ISSUER>
<COMPANY-DATA>
<CONFORMED-NAME>ARES CAPITAL CORP
<CIK>0001287750
<IRS-NUMBER>331089684
<STATE-OF-INCORPORATION>MD
<FISCAL-YEAR-END>1231
</COMPANY-DATA>
<BUSINESS-ADDRESS>
<STREET1>780 THIRD AVENUE
<STREET2>46TH FLOOR
<CITY>NEW YORK
<STATE>NY
<ZIP>10017
<PHONE>2127507300
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>780 THIRD AVENUE
<STREET2>46TH FLOOR
<CITY>NEW YORK
<STATE>NY
<ZIP>10017
</MAIL-ADDRESS>
</ISSUER>
<DOCUMENT>
<TYPE>3
<SEQUENCE>1
<FILENAME>a3.xml
<DESCRIPTION>3
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>3</documentType>

    <periodOfReport>2005-08-02</periodOfReport>

    <noSecuritiesOwned>1</noSecuritiesOwned>

    <issuer>
        <issuerCik>0001287750</issuerCik>
        <issuerName>ARES CAPITAL CORP</issuerName>
        <issuerTradingSymbol>ARCC</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001219289</rptOwnerCik>
            <rptOwnerName>OBRYAN FRANK EUGENE</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>P.O. BOX 17689</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>IRVINE</rptOwnerCity>
            <rptOwnerState>CA</rptOwnerState>
            <rptOwnerZipCode>92623</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <remarks>No securities are beneficially owned.</remarks>

    <ownerSignature>
        <signatureName>/s/ Frank O'Bryan</signatureName>
        <signatureDate>2005-08-08</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SUBMISSION>
