Washington, DC 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): September 27, 2005

                               POLYONE CORPORATION
               (Exact name of registrant as specified in charter)

              Ohio                      1-16091                34-1730488
  ----------------------------        ------------         -------------------
  (State or other jurisdiction        (Commission           (I.R.S. Employer
       of incorporation)              File Number)         Identification No.)

  PolyOne Center, 33587 Walker Road, Avon Lake, Ohio              44012
  --------------------------------------------------           ----------
       (Address of principal executive offices)                (Zip Code)

       Registrant's telephone number, including area code: (440) 930-1000

         (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 requirements 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))


Item 8.01 - Other Events.

On September 27, 2005, the Registrant issued a press release, filed herewith as
Exhibit 99.1, announcing that the Registrant has signed a letter of intent to
sell its Engineered Films business unit to an investor group comprised of
members of the unit's management team along with an investor group formed by
Matrix Capital Markets.

Item 9.01.  Financial Statements and Exhibits.

  (c) Exhibits.

        Exhibit 99.1 - Press release dated September 27, 2005, filed herewith.


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.

                                                  POLYONE CORPORATION

                                                  By: /s/ Michael J. Meier
                                                      Michael J. Meier
                                                      Corporate Controller

Dated:  September 27, 2005