Ownership Submission
FORM 3
 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
  Alvarez Ralph
 2. Date of Event Requiring Statement (Month/Day/Year)
11/22/2004		 3. Issuer Name and Ticker or Trading Symbol
MCDONALDS CORP [MCD]
(Last)
(First)
(Middle)
MCDONALD'S CORPORATION, 2915 JORIE BOULEVARD		 4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
President - McDonald's USA
 5. If Amendment, Date Original Filed(Month/Day/Year)
12/01/2004
(Street)

OAK BROOK, IL 60523		 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Beneficially Owned
1.Title of Security
(Instr. 4)		 2. Amount of Securities Beneficially Owned
(Instr. 4)		 3. Ownership Form: Direct (D) or Indirect (I)
(Instr. 5)		 4. Nature of Indirect Beneficial Ownership
(Instr. 5)
Common Stock 16,099
I
Non-Qualified Benefit Plan
Common Stock 8
D
 

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. SEC 1473 (7-02)
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Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 4)		 2. Date Exercisable and Expiration Date
(Month/Day/Year)		 3. Title and Amount of Securities Underlying Derivative Security
(Instr. 4)		 4. Conversion or Exercise Price of Derivative Security 5. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 5)		 6. Nature of Indirect Beneficial Ownership
(Instr. 5)
Date Exercisable Expiration Date Title Amount or Number of Shares
Options (Right to Buy)   (1) 04/01/2006 Common Stock 24,000 $ 24.625 D  
Options (Right to Buy)   (1) 03/18/2007 Common Stock 24,222 $ 23.5 D  
Options (Right to Buy)   (1) 03/23/2008 Common Stock 31,500 $ 26.25 D  
Options (Right to Buy)   (2) 05/19/2012 Common Stock 24,000 $ 40.4375 D  
Options (Right to Buy)   (2) 03/21/2013 Common Stock 25,300 $ 35.25 D  
Options (Right to Buy)   (2) 02/02/2011 Common Stock 21,500 $ 29.43 D  
Options (Right to Buy)   (2) 03/20/2012 Common Stock 85,000 $ 28.75 D  
Options (Right to Buy)   (2) 03/18/2013 Common Stock 72,000 $ 14.31 D  
Options (Right to Buy)   (2) 02/16/2014 Common Stock 36,000 $ 26.63 D  
Options (Right to Buy)   (2) 05/20/2014 Common Stock 36,000 $ 25.31 D  
Restricted Stock Units (3) 03/18/2006 03/18/2006 Common Stock 30,769 $ (3) D  
Restricted Stock Units (3) 07/14/2008 07/14/2008 Common Stock 20,000 $ (3) D  

Reporting Owners

Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
Alvarez Ralph
MCDONALD'S CORPORATION
2915 JORIE BOULEVARD
OAK BROOK, IL 60523		       President - McDonald's USA  

Signatures

Ralph Alvarez 12/16/2004
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 5(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) Options become exercisable in 25% increments on the first, third, fifth and seventh anniversary dates of the grant.
(2) Options become exercisable in 25% increments on the first, second, third and fourth anniversary dates of the grant.
(3) Restricted Stock Units (RSUs) are granted under the Company's Amended and Restated 2001 Omnibus Stock Ownership Plan and are subject to the terms of such Plan. Upon vesting, payout under the RSUs will be in the form of an equal number of shares of McDonald's common stock or, at the discretion of the Board's Compensation Committee, the cash value thereof. No dividend, voting or other shareholder rights attach to the RSUs until they vest and only if the payout upon vesting is in shares of common stock.

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