<PAGE>   1
    As filed with the Securities and Exchange Commission on January 22, 1996
                                                       Registration No. 33-
                                                                           -----

                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                    FORM S-8
                          REGISTRATION STATEMENT UNDER
                           THE SECURITIES ACT OF 1933

                               RAYCHEM CORPORATION
             ------------------------------------------------------
             (Exact Name of Registrant as Specified in Its Charter)

         Delaware                                              94-1369731
       -------------                                          -----------
(State or Other Jurisdiction of                             (I.R.S. Employer
Incorporation or Organization)                             Identification No.)

300 Constitution Drive, Menlo Park, California                  94025-1164
----------------------------------------------                  ----------
  (Address of Principal Executive Offices)                      (Zip Code)

                      EXECUTIVE DEFERRED COMPENSATION PLAN
                      ------------------------------------
                            (Full Title of the Plans)

                                 Robert J. Vizas
                               Raychem Corporation
                             300 Constitution Drive
                        Menlo Park, California 94025-1164
                   ------------------------------------------
                     (Name and Address of Agent For Service)

                                 (415) 361-3333
                                 ---------------
          (Telephone Number, Including Area Code, of Agent For Service)

                            Copy to: Sarah A. O'Dowd
                        Heller, Ehrman, White & McAuliffe
                              525 University Avenue
                        Palo Alto, California 94301-1908
                                 (415) 324-7000

                         CALCULATION OF REGISTRATION FEE
<TABLE>
<CAPTION>
===============================================================================
                                     Proposed         Proposed
   Title of                           maximum          maximum
  securities           Amount        offering         aggregate      Amount of
     to be              to be        price per        offering     registration
registered (1)       registered(2)     share          price(2)          fee
-------------------------------------------------------------------------------
<S>                  <C>             <C>           <C>             <C>
 Common Stock,
$1.00 par value      $5,000,000        100%        $5,000,000        $1,724.14
===============================================================================
</TABLE>

(1)    The Deferred Compensation Obligations are unsecured obligations of 
       Raychem Corporation to pay deferred compensation in the future in
       accordance with the terms of the Raychem Corporation Executive Deferred
       Compensation Plan for a select group of eligible employees.

(2)    Estimated solely for the purpose of determining the registration fee.
<PAGE>   2
                                     PART II

               INFORMATION REQUIRED IN THE REGISTRATION STATEMENT

                      STATEMENT REQUIRED IN CONNECTION WITH
                      REGISTRATION OF ADDITIONAL SECURITIES

               This Registration Statement covers securities of the Registrant
of the same class as other securities for which registration statements on Form
S-8 relating to the Executive Deferred Compensation Plan are effective. Pursuant
to General Instruction E to Form S-8, the Registrant incorporates by reference
the contents of these previously-filed registration statements: Registration
Nos. 33-58437 and 33-58871. 


                                       2
<PAGE>   3
ITEM 8. EXHIBITS
<TABLE>
<S>            <C>                                            
  5            Opinion of Heller, Ehrman, White & McAuliffe

 23.1          Consent of Heller, Ehrman, White & McAuliffe
               (filed as part of Exhibit 5)

 23.2          Consent of Price Waterhouse LLP, Independent Accountants

 24            Power of Attorney (see pages 5-6)

 99.1          Executive Deferred Compensation Plan
</TABLE>

ITEM 9. UNDERTAKINGS

        The undersigned hereby undertakes:

        (1) To file, during any period in which offers and sales are being
made, a post-effective amendment to this registration statement to include any
material information with respect to the plan of distribution not previously
disclosed in the registration statement or any material change to such
information in the registration statement.


                                       3
<PAGE>   4
        (2) That, for the purpose of determining any liability under the
Securities Act, each such post-effective amendment shall be deemed to be a new
registration statement relating to the securities offered therein, and the
offering of such securities at that time shall be deemed to be the initial bona
fide offering thereof.

        (3) To remove from registration by means of a post-effective amendment
any of the securities being registered which remain unsold at the termination of
the offering.

        The undersigned Registrant hereby undertakes that, for purposes of
determining any liability under the Securities Act, each filing of the
Registrant's annual report pursuant to Section 13(a) or Section 15(d) of the
Securities Exchange Act of 1934, as amended (and, where applicable, each filing
of an employee benefit plan's annual report pursuant to Section 15(d) of the
Securities Exchange Act of 1934) that is incorporated by reference in this
registration statement shall be deemed to be a new registration statement
relating to the securities offered herein, and the offering of such securities
at that time shall be deemed to be the initial bona fide offering thereof.

        Insofar as indemnification for liabilities under the Securities Act may
be permitted to directors, officers and controlling persons of the Registrant,
the Registrant has been advised that in the opinion of the Securities and
Exchange Commission such indemnification is against public policy as expressed
in the Securities Act and is, therefore, unenforceable. In the event that a
claim for indemnification against such liabilities (other than the payment by
the Registrant of expenses incurred or paid by a director, officer or
controlling person of the Registrant in a 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 Registrant 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 of whether such
indemnification by it is against public policy as expressed in the Securities
Act and will be governed by the final adjudication of such issue.


                                       4
<PAGE>   5
                                   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 Menlo Park, State of California, on this 22nd day of
January, 1996.

                                            RAYCHEM CORPORATION

                                            By:   /S/ RAYMOND J. SIMS
                                                  ------------------------------
                                                     Raymond J. Sims
                                                     Senior Vice President and
                                                     Chief Financial Officer

                      POWER OF ATTORNEY TO SIGN AMENDMENTS

               KNOW ALL MEN BY THESE PRESENTS, that each person whose signature
appears below does hereby constitute and appoint Richard A. Kashnow, Raymond J.
Sims and Robert J. Vizas, and each of them, with full power of substitution and
full power to act without the other such person's true and lawful
attorney-in-fact and agent for such person in such person's name, place and
stead, in any and all capacities, to sign any or all amendments (including
post-effective amendments) to this Registration Statement on Form S-8 and to
file the same, with all exhibits thereto, and other documents in connection
therewith, with the Securities and Exchange Commission, granting unto said
attorneys-in-fact and agents, and each of them, 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 in order to effectuate the same as fully, to all intents
and purposes, as they or such person might or could do in person, hereby
ratifying and confirming all that said attorneys-in-fact and agents, or any of
them, may lawfully do or cause to be done by virtue hereof.

               Pursuant to the requirements of the Securities Act of 1933, this
Registration Statement on Form S-8 has been signed by the following persons in
the capacities and on the dates indicated.
<TABLE>
<S>                             <C>                             <C> 
  /S/RICHARD A. KASHNOW         President, Chief                January 22, 1996
-----------------------------    Executive Officer and   
  Richard A. Kashnow             Chairman of the Board   
                                 of Directors (Principal 
                                 Executive Officer)      
                                
</TABLE>


                                       5

<PAGE>   6
<TABLE>
<S>                              <C>                            <C>
  /S/RAYMOND J. SIMS             Senior Vice President and      January 22, 1996
-----------------------------     Chief Financial Officer
     Raymond J. Sims              (Principal Financial     
                                  Officer)                 
                                        

  /S/DEIDRA D. BARSOTTI          Vice President and
-----------------------------     Controller (Principal         January 22, 1996 
     Deidra D. Barsotti           Accounting Officer)                                   
                                        


  /S/PAUL M. COOK                     Director                  January 22, 1996
-----------------------------
     Paul M. Cook


  /S/RICHARD DULUDE                   Director                  January 22, 1996
-----------------------------
    Richard Dulude


  /S/JAMES F. GIBBONS                 Director                  January 22, 1996
-----------------------------
     James F. Gibbons


  /S/JOHN P. MCTAGUE                  Director                  January 22, 1996
-----------------------------
     John P. McTague


  /S/DEAN O. MORTON                   Director                  January 22, 1996
-----------------------------
     Dean O. Morton


  /S/ISAAC STEIN                      Director                  January 22, 1996
-----------------------------
     Isaac Stein                     


  /S/CYRIL J. YANSOUNI                Director                  January 22, 1996
-----------------------------
     Cyril J. Yansouni

</TABLE>


                                       6

<PAGE>   7
                                Index to Exhibits

<TABLE>
<CAPTION>
                                                                    Sequentially
                                                                       Numbered
Item No.                     Description of Item                         Page
--------   ------------------------------------------------------   ------------
<S>        <C>                                                      <C>
 5         Opinion of Heller, Ehrman, White & McAuliffe                  8

23.1       Consent of Heller, Ehrman, White & McAuliffe (filed as
           part of Exhibit 5)                                           --

23.2       Consent of Price Waterhouse LLP, Independent Accountants     12

24         Power of Attorney (see pages 5-6)                             5

99.1       Executive Deferred Compensation Plan                         14
</TABLE>


                                       7
[{"type": "S-8", "sequence": "1", "description": "FORM S-8  DATED JANUARY 22, 1996", "secsgml_size_bytes": 12745}]
{"company-data": {"conformed-name": "RAYCHEM CORP", "cik": "0000082206", "assigned-sic": "3640", "irs-number": "941369731", "state-of-incorporation": "DE", "fiscal-year-end": "0630"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-00355", "film-number": "96505995"}, "business-address": {"street1": "300 CONSTITUTION DR", "street2": "MS 120/8502", "city": "MENLO PARK", "state": "CA", "zip": "94025-1164", "phone": "4153613333"}, "mail-address": {"street1": "300 CONSTITUTION DRIVE", "street2": "MS 120/8502", "city": "MENLO PARK", "state": "CA", "zip": "94025-1164"}, "former-company": {"former-conformed-name": "RAYTHERM CORP", "date-changed": "19720526"}}
1
    As filed with the Securities and Exchange Commission on January 22, 1996
                                                       Registration No. 33-
                                                                           -----

                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                    FORM S-8
                          REGISTRATION STATEMENT UNDER
                           THE SECURITIES ACT OF 1933

                               RAYCHEM CORPORATION
             ------------------------------------------------------
             (Exact Name of Registrant as Specified in Its Charter)

         Delaware                                              94-1369731
       -------------                                          -----------
(State or Other Jurisdiction of                             (I.R.S. Employer
Incorporation or Organization)                             Identification No.)

300 Constitution Drive, Menlo Park, California                  94025-1164
----------------------------------------------                  ----------
  (Address of Principal Executive Offices)                      (Zip Code)

                      EXECUTIVE DEFERRED COMPENSATION PLAN
                      ------------------------------------
                            (Full Title of the Plans)

                                 Robert J. Vizas
                               Raychem Corporation
                             300 Constitution Drive
                        Menlo Park, California 94025-1164
                   ------------------------------------------
                     (Name and Address of Agent For Service)

                                 (415) 361-3333
                                 ---------------
          (Telephone Number, Including Area Code, of Agent For Service)

                            Copy to: Sarah A. O'Dowd
                        Heller, Ehrman, White & McAuliffe
                              525 University Avenue
                        Palo Alto, California 94301-1908
                                 (415) 324-7000

                         CALCULATION OF REGISTRATION FEE
===============================================================================
                                     Proposed         Proposed
   Title of                           maximum          maximum
  securities           Amount        offering         aggregate      Amount of
     to be              to be        price per        offering     registration
registered (1)       registered(2)     share          price(2)          fee
-------------------------------------------------------------------------------
Common Stock,
$1.00 par value      $5,000,000        100%        $5,000,000        $1,724.14
===============================================================================
(1)    The Deferred Compensation Obligations are unsecured obligations of 
       Raychem Corporation to pay deferred compensation in the future in
       accordance with the terms of the Raychem Corporation Executive Deferred
       Compensation Plan for a select group of eligible employees.

(2)    Estimated solely for the purpose of determining the registration fee.
2
                                     PART II

               INFORMATION REQUIRED IN THE REGISTRATION STATEMENT

                      STATEMENT REQUIRED IN CONNECTION WITH
                      REGISTRATION OF ADDITIONAL SECURITIES

               This Registration Statement covers securities of the Registrant
of the same class as other securities for which registration statements on Form
S-8 relating to the Executive Deferred Compensation Plan are effective. Pursuant
to General Instruction E to Form S-8, the Registrant incorporates by reference
the contents of these previously-filed registration statements: Registration
Nos. 33-58437 and 33-58871. 

                                       2
3
ITEM 8. EXHIBITS
5            Opinion of Heller, Ehrman, White & McAuliffe

 23.1          Consent of Heller, Ehrman, White & McAuliffe
               (filed as part of Exhibit 5)

 23.2          Consent of Price Waterhouse LLP, Independent Accountants

 24            Power of Attorney (see pages 5-6)

 99.1          Executive Deferred Compensation Plan
ITEM 9. UNDERTAKINGS

        The undersigned hereby undertakes:

        (1) To file, during any period in which offers and sales are being
made, a post-effective amendment to this registration statement to include any
material information with respect to the plan of distribution not previously
disclosed in the registration statement or any material change to such
information in the registration statement.

                                       3
4
        (2) That, for the purpose of determining any liability under the
Securities Act, each such post-effective amendment shall be deemed to be a new
registration statement relating to the securities offered therein, and the
offering of such securities at that time shall be deemed to be the initial bona
fide offering thereof.

        (3) To remove from registration by means of a post-effective amendment
any of the securities being registered which remain unsold at the termination of
the offering.

        The undersigned Registrant hereby undertakes that, for purposes of
determining any liability under the Securities Act, each filing of the
Registrant's annual report pursuant to Section 13(a) or Section 15(d) of the
Securities Exchange Act of 1934, as amended (and, where applicable, each filing
of an employee benefit plan's annual report pursuant to Section 15(d) of the
Securities Exchange Act of 1934) that is incorporated by reference in this
registration statement shall be deemed to be a new registration statement
relating to the securities offered herein, and the offering of such securities
at that time shall be deemed to be the initial bona fide offering thereof.

        Insofar as indemnification for liabilities under the Securities Act may
be permitted to directors, officers and controlling persons of the Registrant,
the Registrant has been advised that in the opinion of the Securities and
Exchange Commission such indemnification is against public policy as expressed
in the Securities Act and is, therefore, unenforceable. In the event that a
claim for indemnification against such liabilities (other than the payment by
the Registrant of expenses incurred or paid by a director, officer or
controlling person of the Registrant in a 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 Registrant 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 of whether such
indemnification by it is against public policy as expressed in the Securities
Act and will be governed by the final adjudication of such issue.

                                       4
5
                                   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 Menlo Park, State of California, on this 22nd day of
January, 1996.

                                            RAYCHEM CORPORATION

                                            By:   /S/ RAYMOND J. SIMS
                                                  ------------------------------
                                                     Raymond J. Sims
                                                     Senior Vice President and
                                                     Chief Financial Officer

                      POWER OF ATTORNEY TO SIGN AMENDMENTS

               KNOW ALL MEN BY THESE PRESENTS, that each person whose signature
appears below does hereby constitute and appoint Richard A. Kashnow, Raymond J.
Sims and Robert J. Vizas, and each of them, with full power of substitution and
full power to act without the other such person's true and lawful
attorney-in-fact and agent for such person in such person's name, place and
stead, in any and all capacities, to sign any or all amendments (including
post-effective amendments) to this Registration Statement on Form S-8 and to
file the same, with all exhibits thereto, and other documents in connection
therewith, with the Securities and Exchange Commission, granting unto said
attorneys-in-fact and agents, and each of them, 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 in order to effectuate the same as fully, to all intents
and purposes, as they or such person might or could do in person, hereby
ratifying and confirming all that said attorneys-in-fact and agents, or any of
them, may lawfully do or cause to be done by virtue hereof.

               Pursuant to the requirements of the Securities Act of 1933, this
Registration Statement on Form S-8 has been signed by the following persons in
the capacities and on the dates indicated.
/S/RICHARD A. KASHNOW         President, Chief                January 22, 1996
-----------------------------    Executive Officer and   
  Richard A. Kashnow             Chairman of the Board   
                                 of Directors (Principal 
                                 Executive Officer)
5
6
/S/RAYMOND J. SIMS             Senior Vice President and      January 22, 1996
-----------------------------     Chief Financial Officer
     Raymond J. Sims              (Principal Financial     
                                  Officer)                 
                                        

  /S/DEIDRA D. BARSOTTI          Vice President and
-----------------------------     Controller (Principal         January 22, 1996 
     Deidra D. Barsotti           Accounting Officer)                                   
                                        

  /S/PAUL M. COOK                     Director                  January 22, 1996
-----------------------------
     Paul M. Cook

  /S/RICHARD DULUDE                   Director                  January 22, 1996
-----------------------------
    Richard Dulude

  /S/JAMES F. GIBBONS                 Director                  January 22, 1996
-----------------------------
     James F. Gibbons

  /S/JOHN P. MCTAGUE                  Director                  January 22, 1996
-----------------------------
     John P. McTague

  /S/DEAN O. MORTON                   Director                  January 22, 1996
-----------------------------
     Dean O. Morton

  /S/ISAAC STEIN                      Director                  January 22, 1996
-----------------------------
     Isaac Stein                     

  /S/CYRIL J. YANSOUNI                Director                  January 22, 1996
-----------------------------
     Cyril J. Yansouni
6
7
                                Index to Exhibits
Sequentially
                                                                       Numbered
Item No.                     Description of Item                         Page
--------   ------------------------------------------------------   ------------
5         Opinion of Heller, Ehrman, White & McAuliffe                  8

23.1       Consent of Heller, Ehrman, White & McAuliffe (filed as
           part of Exhibit 5)                                           --

23.2       Consent of Price Waterhouse LLP, Independent Accountants     12

24         Power of Attorney (see pages 5-6)                             5

99.1       Executive Deferred Compensation Plan                         14
7