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<title>Prepared By R.R. Donnelley Financial -- Form 8-K</title>
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<b>UNITED STATES </b></font></div>

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<b>SECURITIES AND EXCHANGE COMMISSION </b></font></div>

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<b>Washington, D.C. 20549 </b></font></div>

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<b>Form 8-K </b></font></div> <div><font Size="1">&nbsp;</font></div>

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<b>Current Report </b></font></div>

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<b>Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 </b></font></div>

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<b>Date of Report (Date of earliest event reported):&nbsp;&nbsp;10/24/2006 </b></font></div>




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<b>Magellan Midstream Partners, L.P. </b></font></div>

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<b>(Exact name of registrant as specified in its charter)</b></font></div>

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<b>Commission File Number:&nbsp;&nbsp;1-16335</b></font></div>

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<div Align="center"><font Face="times New Roman" Size="3" Color="#000000"><b>DE</b></font>
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<div Align="center"><font Face="times New Roman" Size="3" Color="#000000"><b>73-1599053</b></font>
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<b>(State or other jurisdiction of</b></font>
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<div Align="center"><font Face="times New Roman" Size="2" Color="#000000"><b>(IRS Employer</b></font>
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<b>incorporation)</b></font>
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<b>Identification No.)</b></font>
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<b>One Williams Center, Tulsa, OK 74172</b></font></div>


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<b>(Address of principal executive offices, including zip code)</b></font>
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<b>(918) 574-7000 </b></font>
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<b>(Registrant&#146;s telephone number, including area code)</b></font>
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<b> </b></font>
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<b>(Former name or former address, if changed since last report) </b></font>
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<b>Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:<BR><BR>
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<b>[&nbsp;&nbsp;]&nbsp;&nbsp;
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)<BR><BR>

[&nbsp;&nbsp;]&nbsp;&nbsp;
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)<BR><BR>


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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))<BR><BR>


[&nbsp;&nbsp;]&nbsp;&nbsp;
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Information to be included in the report</b>
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<b>Item 1.01.&nbsp;&nbsp;&nbsp;&nbsp;Entry into a Material Definitive Agreement</b></font>
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The board of directors of Magellan GP, LLC, the general partner of Magellan Midstream Partners, L.P. (the "Partnership"), adopted the Seventh Amended and Restated Magellan Midstream Partners Long-Term Incentive Plan effective October 26, 2006. The primary modification to the plan was to remove the ability to grant unit options.  A copy of the plan is filed as Exhibit 10.1 to this Form 8-K and is incorporated herein by reference. </div><div align="left" style="text-indent:4%"></font>
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<b>Item 5.02.&nbsp;&nbsp;&nbsp;&nbsp;Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers</b></font>
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On October 24, 2006, Jim H. Derryberry resigned from the Board of Directors and Compensation Committee of Magellan GP, LLC. Mr. Derryberry was a non-management director recommended by Carlyle/Riverstone MLP Holdings, L.P.  Carlyle/Riverstone has recommended a replacement candidate for the Board's consideration.</font>
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<b>Item 8.01.&nbsp;&nbsp;&nbsp;&nbsp;Other Events</b></font>
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Effective October 20, 2006, Jay A. Wiese, Vice President of Terminal Services and Development, left to pursue other interests, ending a 24-year career supporting the Partnership's assets.  Mr. Wiese joined Williams Pipeline in 1982 as a planning analyst and worked his way up to Managing Director of Terminal Services and Commercial Development for a subsidiary of Williams in 2000.  He served as Vice President, Terminal Services and Development, for  Magellan since January of 2001.  </div><div align="left" style="text-indent:4%"></font>
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<b>Item 9.01.&nbsp;&nbsp;&nbsp;&nbsp;Financial Statements and Exhibits</b></font>
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Exhibit 10.1 - Seventh Amended and Restated Magellan Midstream Partners Long-Term Incentive Plan effective October 26, 2006.</font>
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<b>Signature(s) </b></font>
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Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized. </font>
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	Magellan Midstream Partners, L.P.</font>
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	Date: October 27, 2006</font>
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	By:</font>
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	/s/&nbsp;&nbsp;&nbsp;&nbsp;Suzanne H. Costin</font>
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	Suzanne H. Costin</font>
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	<div><font Face="times New Roman" Size="2" Color="#000000">Corporate Secretary</font>
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<b>Exhibit Index </b></font>
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	<b>Exhibit&nbsp;No.</b></font>
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	<b>Description</b></font>
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	EX-10.1</font>
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	Seventh Amended and Restated Magellan Midstream Partners Long-Term Incentive Plan effective 10-26-2006</font>
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Prepared By R.R. Donnelley Financial -- Form 8-K
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
Current Report
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):  10/24/2006
Magellan Midstream Partners, L.P.
(Exact name of registrant as specified in its charter)
Commission File Number:  1-16335
DE
73-1599053
(State or other jurisdiction of
(IRS Employer
incorporation)
Identification No.)
One Williams Center, Tulsa, OK 74172
(Address of principal executive offices, including zip code)
(918) 574-7000
(Registrant's telephone number, including area code)
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
[  ]  
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[  ]  
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[  ]  
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[  ]  
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Information to be included in the report
Item 1.01.    Entry into a Material Definitive Agreement
The board of directors of Magellan GP, LLC, the general partner of Magellan Midstream Partners, L.P. (the "Partnership"), adopted the Seventh Amended and Restated Magellan Midstream Partners Long-Term Incentive Plan effective October 26, 2006. The primary modification to the plan was to remove the ability to grant unit options.  A copy of the plan is filed as Exhibit 10.1 to this Form 8-K and is incorporated herein by reference.
Item 5.02.    Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers
On October 24, 2006, Jim H. Derryberry resigned from the Board of Directors and Compensation Committee of Magellan GP, LLC. Mr. Derryberry was a non-management director recommended by Carlyle/Riverstone MLP Holdings, L.P.  Carlyle/Riverstone has recommended a replacement candidate for the Board's consideration.
Item 8.01.    Other Events
Effective October 20, 2006, Jay A. Wiese, Vice President of Terminal Services and Development, left to pursue other interests, ending a 24-year career supporting the Partnership's assets.  Mr. Wiese joined Williams Pipeline in 1982 as a planning analyst and worked his way up to Managing Director of Terminal Services and Commercial Development for a subsidiary of Williams in 2000.  He served as Vice President, Terminal Services and Development, for  Magellan since January of 2001.
Item 9.01.    Financial Statements and Exhibits
Exhibit 10.1 - Seventh Amended and Restated Magellan Midstream Partners Long-Term Incentive Plan effective October 26, 2006.
Signature(s)
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
Magellan Midstream Partners, L.P.
Date: October 27, 2006
By:
/s/    Suzanne H. Costin
Suzanne H. Costin
Corporate Secretary
Exhibit Index
Exhibit No.
Description
EX-10.1
Seventh Amended and Restated Magellan Midstream Partners Long-Term Incentive Plan effective 10-26-2006