<PAGE>   1
                                                       Registration No. _______


                       SECURITIES AND EXCHANGE COMMISSION
                              WASHINGTON, DC 20549

                                   -----------

                                    FORM S-8

                             REGISTRATION STATEMENT
                                      UNDER
                           THE SECURITIES ACT OF 1933

                                   -----------

                       MURDOCK COMMUNICATIONS CORPORATION
                       ----------------------------------
             (Exact name of registrant as specified in its charter)

                     Iowa                                    42-1337746
           ------------------------                    ------------------------
           (State of Incorporation)                    I.R.S. Employer I.D. No.

             1112 29th Avenue S.W.
              Cedar Rapids, Iowa                               52404
      --------------------------------------                  --------
      Address of Principal Executive Offices)                (Zip Code)


            MURDOCK COMMUNICATIONS CORPORATION 1993 STOCK OPTION PLAN
            ---------------------------------------------------------
                            (Full title of the plan)


                                Thomas E. Chaplin
                             Chief Executive Officer
                       Murdock Communications Corporation
                              1112 29th Avenue S.W.
                            Cedar Rapids, Iowa 52404
                     ---------------------------------------
                     (Name and address of agent for service)

                                  319-362-6900
                     (Telephone number, including area code
                              of agent for service)

                                   -----------

                         CALCULATION OF REGISTRATION FEE
<TABLE>
<CAPTION>

---------------------------------------------------------------------------------------------------------
                                                   Proposed
                                                   Maximum           Proposed
                                                   Offering          Maximum                Amount Of
Title Of Securities          Amount To             Price Per         Aggregate             Registration
 To Be Registered          Be Registered            Share            Offering Price            Fee    
--------------------------------------------------------------------------------------------------------- 
<S>                          <S>                   <S>               <S>                      <S>
Common Stock, no par         272,529               $4.35 (1)         $1,185,502               $350
value                                                                                                                              
---------------------------------------------------------------------------------------------------------
</TABLE>

(1)      For the purpose of computing the registration fee, Murdock
         Communications Corporation (the "Registrant") has used $4.35 as the
         average of the bid and asked prices of the Common Stock as reported on
         August 18, 1998 on the Nasdaq Bulletin Board for the offering price per
         share, in accordance with Rule 457(h).


<PAGE>   2


                      PART II - INFORMATION REQUIRED IN THE
                             REGISTRATION STATEMENT


Item 3.  Incorporation of Documents by Reference.

                  The following documents filed with the Securities and Exchange
Commission (the "Commission") are incorporated herein by reference:

                    (a)   The Registrant's Annual Report on Form 10-KSB for the
 year ended December 31, 1997.

                    (b)   All other reports filed pursuant to sections 13(a) or
15(d) of the  Exchange  Act  since  the end of the  1997  fiscal  year  which is
reported in the Annual Report referred to in paragraph (a) above.

                    (c)   The description of the Registrant's Common Stock
contained  in the  registration  statement  filed  pursuant to section 12 of the
Exchange  Act and all  amendments  thereto or reports  filed for the  purpose of
updating such description.

                    All reports and other documents subsequently filed by the
Registrant  pursuant to sections 13(a), 13(c), 14 and 15(d) of the Exchange Act,
prior to the  filing of a  post-effective  amendment  which  indicates  that all
securities  offered  have been sold or which  deregisters  all  securities  then
remaining unsold,  shall be deemed to be incorporated by reference herein and to
be a part hereof from the date of filing of such documents.

Item 4.  Description of Securities.

         Not applicable.

Item 5.  Interests of Named Experts and Counsel.

         Not applicable.

Item 6.  Indemnification of Directors and Officers.

         The Iowa Business Corporation Act (the "IBCA") authorizes corporations
to limit or eliminate the personal liability of directors to corporations and
their shareholders for monetary damages for breach of directors' fiduciary duty
of care. The Company's Articles of Incorporation (the "Articles") limits the
liability of directors of the Company to the Company or its shareholders to the
fullest extent permitted by the IBCA or any other applicable laws presently or
hereinafter in effect. Specifically, a director of the Company will not be
personally liable for or with respect to any acts or omissions in the
performance of his duties as a director of the Company except for a breach of
the director's duty of loyalty to the Company or its shareholders, for acts or
omissions not in good faith or which involve intentional misconduct or a knowing
violation of law, for a transaction in which the director derives an improper
personal benefit or for unlawful distributions.

         The inclusion of this provision in the Articles may have the effect of
reducing the likelihood of derivative litigation against directors, and may
discourage or deter shareholders or management from bringing a lawsuit against
directors for breach of their duty of care, even though such an action, if
successful, might otherwise have benefited the Company and its shareholders.

         The Articles also provide mandatory indemnification rights to any
officer or director of the Company to the full extent permitted by Iowa law or
any applicable laws presently or hereafter in effect.


<PAGE>   3

         Unless a corporation's articles of incorporation provide otherwise, the
IBCA requires a corporation to indemnify a director or officer who was
completely successful in the defense of any proceeding to which the director or
officer was a party because the director or officer is or was a director or
officer of the corporation and permits a director or officer to apply for
court-ordered indemnification if the director or officer is fairly and
reasonably entitled to indemnification in view of all of the relevant
circumstances. The Articles do not limit the foregoing indemnification rights of
the directors and officers of the Company. In addition, the Company's By-Laws
provide that, to the fullest extent permitted by Iowa law, the Company may
indemnify the officers and directors of the Company.

         The Company intends to maintain insurance for each director and officer
of the Company covering certain expenses, liability or losses he may incur that
arise by reason of his being a director or officer of the Company or subsidiary
company, whether or not the Company would have the power to indemnify such
person against such expenses, liability or loss under the IBCA.

Item 7.  Exemption from Registration Claimed.

         Not applicable.

Item 8.  Exhibits.

4.1               Restated Articles of Incorporation.
4.2               First Amendment to Restated Articles of Incorporation.
4.3               Second Amendment to Restated Articles of Incorporation.
4.4               Amended and Restated By-Laws.
5                 Opinion of Reinhart, Boerner, Van Deuren, Norris & Rieselbach,
                  s.c. as to the legality of the
                  stock being registered.
23.1              Consent of Deloitte & Touche LLP.
24                Power of Attorney.

Item 9.  Undertakings.

                  1.     The small business issuer hereby undertakes as follows:

                         (a)      To file, during any period in which it 
offers or sells securities, a post-effective amendment to this Registration
Statement to include any additional or changed material information on the plan
of distribution.

                         (b)      That, for determining liability under the
Securities Act, treat each post-effective amendment as a new registration
statement relating to the securities offered, and the offering of such
securities at that time to be the initial bona fide offering thereof.

                         (c)      To file a post-effective amendment to remove
from registration any of the securities that remain unsold at the termination of
the offering.

                  2.     Insofar as indemnification for liabilities arising
under the Securities Act of 1933 (the "Act") may be permitted to directors,
officers and controlling persons of the small business issuer pursuant to the
foregoing provisions, or otherwise, the small business issuer has been advised
that in the opinion of the Securities and Exchange Commission such
indemnification is against public policy as expressed in the Act and is,
therefore, unenforceable. In the event that a claim for indemnification against
such liabilities (other than the payment by the small business issuer of
expenses incurred or paid by a director, officer or controlling person of the
small business issuer in the successful defense of any action, suit or
proceeding) is asserted by such director, officer or controlling person in
connection with the securities being registered, the small business issuer will,
unless in the opinion of its counsel the matter has been settled by controlling
precedent, submit to a court of appropriate jurisdiction the question whether
such indemnification by it is against public policy as expressed in the Act and
will be governed by the final adjudication of such issue.

                 
                                       2

<PAGE>   4


                                   SIGNATURES


                  Pursuant to the requirements of the Securities Act of 1933,
the Registrant certifies that it has reasonable grounds to believe that it meets
all of the requirements for filing on Form S-8 and has duly caused this
Registration Statement to be signed on its behalf by the undersigned, thereunto
duly authorized in the City of Cedar Rapids, State of Iowa, on August 20, 1998.

                                         MURDOCK COMMUNICATIONS CORPORATION

                                         BY /s/ Guy O. Murdock
                                           --------------------------------
                                           Guy O. Murdock, Chairman of the Board

                                POWER OF ATTORNEY

                  Each person whose signature appears below hereby constitutes
and appoints Guy O. Murdock and Thomas E. Chaplin, and each of them, his true
and lawful attorney-in-fact and agent, with full power of substitution and
resubstitution for him and in his name, place and stead, in any and all
capacities, to sign any and all amendments (including post-effective amendments)
to this Registration Statement, and to file the same, with all exhibits thereto,
and other documents in connection therewith, with the Securities and Exchange
Commission, granting unto each said attorney-in-fact and agent full power and
authority to do and perform each and every act and thing requisite and necessary
to be done in and about the premises, as fully to all intents and purposes as he
might or could do in person, hereby ratifying and confirming all that said
attorney-in-fact and agent or his substitute may lawfully do or cause to be done
by virtue hereof.

                  Pursuant to the requirements of the Securities Act of 1933,
this Registration Statement has been signed by the following persons in the
capacities and on the dates indicated.

<TABLE>
<CAPTION>

    Signature                          Title                                    Date

<S>                                 <C>                                  <C>
/s/ Guy O. Murdock                  Chairman of the Board and             August 20, 1998
-------------------------------     Director
Guy O. Murdock                      

/s/ Thomas E. Chaplin               Chief Executive Officer and           August 20, 1998
-------------------------------     Director
Thomas E. Chaplin                   

/s/ Colin P. Halford                President and Director                August 20, 1998
-------------------------------
Colin P. Halford

/s/ John C. Poss                    Director                              August 20, 1998
-------------------------------
John C. Poss

/s/ Steven R. Ehlert                Director                              August 20, 1998
-------------------------------
Steven R. Ehlert

/s/ Larry A. Erickson               Director                              August 20, 1998
-------------------------------
Larry A. Erickson

/s/ Wayne Wright                    Director                              August 20, 1998
-------------------------------
Wayne Wright

</TABLE>



                                       3

<PAGE>   5


                                INDEX TO EXHIBITS

<TABLE>
<CAPTION>

Exhibit No                     Description                                  Page
----------                     -----------                                  ----
    <S>               <C>                                               <C>
    4.1                Restated Articles of Incorporation                    *

    4.2                First Amendment to Restated Articles                  **
                         of Incorporation

    4.3                Second Amendment to Restated Articles                 **
                         of Incorporation
                                                                            
    4.4                Amended and Restated By-Laws                          ***

    5                  Opinion of Reinhart, Boerner,                         
                         Van Deuren, Norris & Rieselbach,
                         s.c. as to the legality of the
                         stock being registered

   23.1                Consent of Deloitte & Touche LLP                     

   24                  Power of Attorney                                    ****

</TABLE>

 *Incorporated by reference to the Registrant's Form SB-2 Registration Statement
(Registration Statement No. 333-05422C).

**Incorporated by reference to the Registrant's Quarterly Report on Form 10-QSB
for the quarter ended September 30, 1997 (File No. 000-21463).

***Incorporated by reference to the Registrant's Quarterly Report on Form 10-QSB
for the quarter ended March 31, 1997 (File No. 000-21463).

****Incorporated by reference to the signature page of this Registration 
Statement.

                                        4
[{"type": "S-8", "sequence": "1", "description": "FORM S-8", "secsgml_size_bytes": 15536}]
{"company-data": {"conformed-name": "MURDOCK COMMUNICATIONS CORP", "cik": "0000908754", "assigned-sic": "4822", "irs-number": "421339746", "state-of-incorporation": "IA", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-61917", "film-number": "98695120"}, "business-address": {"street1": "1112 29TH AVE S W", "city": "CEDAR RAPIDS", "state": "IA", "zip": "52404", "phone": "3193626900"}, "mail-address": {"street1": "1112 29TH AVE SW", "city": "CEDAR RAPIDS", "state": "IA", "zip": "52404"}}
1
                                                       Registration No. _______

                       SECURITIES AND EXCHANGE COMMISSION
                              WASHINGTON, DC 20549

                                   -----------

                                    FORM S-8

                             REGISTRATION STATEMENT
                                      UNDER
                           THE SECURITIES ACT OF 1933

                                   -----------

                       MURDOCK COMMUNICATIONS CORPORATION
                       ----------------------------------
             (Exact name of registrant as specified in its charter)

                     Iowa                                    42-1337746
           ------------------------                    ------------------------
           (State of Incorporation)                    I.R.S. Employer I.D. No.

             1112 29th Avenue S.W.
              Cedar Rapids, Iowa                               52404
      --------------------------------------                  --------
      Address of Principal Executive Offices)                (Zip Code)

            MURDOCK COMMUNICATIONS CORPORATION 1993 STOCK OPTION PLAN
            ---------------------------------------------------------
                            (Full title of the plan)

                                Thomas E. Chaplin
                             Chief Executive Officer
                       Murdock Communications Corporation
                              1112 29th Avenue S.W.
                            Cedar Rapids, Iowa 52404
                     ---------------------------------------
                     (Name and address of agent for service)

                                  319-362-6900
                     (Telephone number, including area code
                              of agent for service)

                                   -----------

                         CALCULATION OF REGISTRATION FEE
---------------------------------------------------------------------------------------------------------
                                                   Proposed
                                                   Maximum           Proposed
                                                   Offering          Maximum                Amount Of
Title Of Securities          Amount To             Price Per         Aggregate             Registration
 To Be Registered          Be Registered            Share            Offering Price            Fee    
---------------------------------------------------------------------------------------------------------
Common Stock, no par         272,529               $4.35 (1)         $1,185,502               $350
value                                                                                                                              
---------------------------------------------------------------------------------------------------------
(1)      For the purpose of computing the registration fee, Murdock
         Communications Corporation (the "Registrant") has used $4.35 as the
         average of the bid and asked prices of the Common Stock as reported on
         August 18, 1998 on the Nasdaq Bulletin Board for the offering price per
         share, in accordance with Rule 457(h).
2

                      PART II - INFORMATION REQUIRED IN THE
                             REGISTRATION STATEMENT

Item 3.  Incorporation of Documents by Reference.

                  The following documents filed with the Securities and Exchange
Commission (the "Commission") are incorporated herein by reference:

                    (a)   The Registrant's Annual Report on Form 10-KSB for the
 year ended December 31, 1997.

                    (b)   All other reports filed pursuant to sections 13(a) or
15(d) of the  Exchange  Act  since  the end of the  1997  fiscal  year  which is
reported in the Annual Report referred to in paragraph (a) above.

                    (c)   The description of the Registrant's Common Stock
contained  in the  registration  statement  filed  pursuant to section 12 of the
Exchange  Act and all  amendments  thereto or reports  filed for the  purpose of
updating such description.

                    All reports and other documents subsequently filed by the
Registrant  pursuant to sections 13(a), 13(c), 14 and 15(d) of the Exchange Act,
prior to the  filing of a  post-effective  amendment  which  indicates  that all
securities  offered  have been sold or which  deregisters  all  securities  then
remaining unsold,  shall be deemed to be incorporated by reference herein and to
be a part hereof from the date of filing of such documents.

Item 4.  Description of Securities.

         Not applicable.

Item 5.  Interests of Named Experts and Counsel.

         Not applicable.

Item 6.  Indemnification of Directors and Officers.

         The Iowa Business Corporation Act (the "IBCA") authorizes corporations
to limit or eliminate the personal liability of directors to corporations and
their shareholders for monetary damages for breach of directors' fiduciary duty
of care. The Company's Articles of Incorporation (the "Articles") limits the
liability of directors of the Company to the Company or its shareholders to the
fullest extent permitted by the IBCA or any other applicable laws presently or
hereinafter in effect. Specifically, a director of the Company will not be
personally liable for or with respect to any acts or omissions in the
performance of his duties as a director of the Company except for a breach of
the director's duty of loyalty to the Company or its shareholders, for acts or
omissions not in good faith or which involve intentional misconduct or a knowing
violation of law, for a transaction in which the director derives an improper
personal benefit or for unlawful distributions.

         The inclusion of this provision in the Articles may have the effect of
reducing the likelihood of derivative litigation against directors, and may
discourage or deter shareholders or management from bringing a lawsuit against
directors for breach of their duty of care, even though such an action, if
successful, might otherwise have benefited the Company and its shareholders.

         The Articles also provide mandatory indemnification rights to any
officer or director of the Company to the full extent permitted by Iowa law or
any applicable laws presently or hereafter in effect.
3

         Unless a corporation's articles of incorporation provide otherwise, the
IBCA requires a corporation to indemnify a director or officer who was
completely successful in the defense of any proceeding to which the director or
officer was a party because the director or officer is or was a director or
officer of the corporation and permits a director or officer to apply for
court-ordered indemnification if the director or officer is fairly and
reasonably entitled to indemnification in view of all of the relevant
circumstances. The Articles do not limit the foregoing indemnification rights of
the directors and officers of the Company. In addition, the Company's By-Laws
provide that, to the fullest extent permitted by Iowa law, the Company may
indemnify the officers and directors of the Company.

         The Company intends to maintain insurance for each director and officer
of the Company covering certain expenses, liability or losses he may incur that
arise by reason of his being a director or officer of the Company or subsidiary
company, whether or not the Company would have the power to indemnify such
person against such expenses, liability or loss under the IBCA.

Item 7.  Exemption from Registration Claimed.

         Not applicable.

Item 8.  Exhibits.

4.1               Restated Articles of Incorporation.
4.2               First Amendment to Restated Articles of Incorporation.
4.3               Second Amendment to Restated Articles of Incorporation.
4.4               Amended and Restated By-Laws.
5                 Opinion of Reinhart, Boerner, Van Deuren, Norris & Rieselbach,
                  s.c. as to the legality of the
                  stock being registered.
23.1              Consent of Deloitte & Touche LLP.
24                Power of Attorney.

Item 9.  Undertakings.

                  1.     The small business issuer hereby undertakes as follows:

                         (a)      To file, during any period in which it 
offers or sells securities, a post-effective amendment to this Registration
Statement to include any additional or changed material information on the plan
of distribution.

                         (b)      That, for determining liability under the
Securities Act, treat each post-effective amendment as a new registration
statement relating to the securities offered, and the offering of such
securities at that time to be the initial bona fide offering thereof.

                         (c)      To file a post-effective amendment to remove
from registration any of the securities that remain unsold at the termination of
the offering.

                  2.     Insofar as indemnification for liabilities arising
under the Securities Act of 1933 (the "Act") may be permitted to directors,
officers and controlling persons of the small business issuer pursuant to the
foregoing provisions, or otherwise, the small business issuer has been advised
that in the opinion of the Securities and Exchange Commission such
indemnification is against public policy as expressed in the Act and is,
therefore, unenforceable. In the event that a claim for indemnification against
such liabilities (other than the payment by the small business issuer of
expenses incurred or paid by a director, officer or controlling person of the
small business issuer in the successful defense of any action, suit or
proceeding) is asserted by such director, officer or controlling person in
connection with the securities being registered, the small business issuer will,
unless in the opinion of its counsel the matter has been settled by controlling
precedent, submit to a court of appropriate jurisdiction the question whether
such indemnification by it is against public policy as expressed in the Act and
will be governed by the final adjudication of such issue.

                 
                                       2
4

                                   SIGNATURES

                  Pursuant to the requirements of the Securities Act of 1933,
the Registrant certifies that it has reasonable grounds to believe that it meets
all of the requirements for filing on Form S-8 and has duly caused this
Registration Statement to be signed on its behalf by the undersigned, thereunto
duly authorized in the City of Cedar Rapids, State of Iowa, on August 20, 1998.

                                         MURDOCK COMMUNICATIONS CORPORATION

                                         BY /s/ Guy O. Murdock
                                           --------------------------------
                                           Guy O. Murdock, Chairman of the Board

                                POWER OF ATTORNEY

                  Each person whose signature appears below hereby constitutes
and appoints Guy O. Murdock and Thomas E. Chaplin, and each of them, his true
and lawful attorney-in-fact and agent, with full power of substitution and
resubstitution for him and in his name, place and stead, in any and all
capacities, to sign any and all amendments (including post-effective amendments)
to this Registration Statement, and to file the same, with all exhibits thereto,
and other documents in connection therewith, with the Securities and Exchange
Commission, granting unto each said attorney-in-fact and agent full power and
authority to do and perform each and every act and thing requisite and necessary
to be done in and about the premises, as fully to all intents and purposes as he
might or could do in person, hereby ratifying and confirming all that said
attorney-in-fact and agent or his substitute may lawfully do or cause to be done
by virtue hereof.

                  Pursuant to the requirements of the Securities Act of 1933,
this Registration Statement has been signed by the following persons in the
capacities and on the dates indicated.
Signature                          Title                                    Date
/s/ Guy O. Murdock                  Chairman of the Board and             August 20, 1998
-------------------------------     Director
Guy O. Murdock                      

/s/ Thomas E. Chaplin               Chief Executive Officer and           August 20, 1998
-------------------------------     Director
Thomas E. Chaplin                   

/s/ Colin P. Halford                President and Director                August 20, 1998
-------------------------------
Colin P. Halford

/s/ John C. Poss                    Director                              August 20, 1998
-------------------------------
John C. Poss

/s/ Steven R. Ehlert                Director                              August 20, 1998
-------------------------------
Steven R. Ehlert

/s/ Larry A. Erickson               Director                              August 20, 1998
-------------------------------
Larry A. Erickson

/s/ Wayne Wright                    Director                              August 20, 1998
-------------------------------
Wayne Wright
3
5

                                INDEX TO EXHIBITS
Exhibit No                     Description                                  Page
----------                     -----------                                  ----
4.1                Restated Articles of Incorporation                    *

    4.2                First Amendment to Restated Articles                  **
                         of Incorporation

    4.3                Second Amendment to Restated Articles                 **
                         of Incorporation
                                                                            
    4.4                Amended and Restated By-Laws                          ***

    5                  Opinion of Reinhart, Boerner,                         
                         Van Deuren, Norris & Rieselbach,
                         s.c. as to the legality of the
                         stock being registered

   23.1                Consent of Deloitte & Touche LLP                     

   24                  Power of Attorney                                    ****
*Incorporated by reference to the Registrant's Form SB-2 Registration Statement
(Registration Statement No. 333-05422C).

**Incorporated by reference to the Registrant's Quarterly Report on Form 10-QSB
for the quarter ended September 30, 1997 (File No. 000-21463).

***Incorporated by reference to the Registrant's Quarterly Report on Form 10-QSB
for the quarter ended March 31, 1997 (File No. 000-21463).

****Incorporated by reference to the signature page of this Registration 
Statement.

                                        4