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): June 29, 2004

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

        Ohio                        1-16091                    34-1730488
       ------                      ----------                ---------------
   (State or other                (Commission                    (I.R.S.
   jurisdiction of                File Number)                  Employer
   incorporation)                                            Identification

          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.)

Item 5.       Other Events

On June 29, 2004, the Registrant issued a press release, filed herewith as
Exhibit 99.1, announcing the Registrant's having executed a definitive agreement
for the sale of Registrant's Elastomers & Performance Additives business to an
entity formed by an investor group led by Lion Chemical Capital LLC and ACI
Capital, Co., Inc.

Item 7 (c)     Financial Statements and Exhibits

Exhibit 99.1 -- Press Release of June 29, 2004, 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
                                            Corporate Controller

Dated:  June 29, 2004