As  filed  with  the  Securities  and  Exchange  Commission  on  June 1,  2001.
                                                      Registration No. 333-48432


                             WASHINGTON, D.C. 20549

                         POST-EFFECTIVE AMENDMENT NO. 1
                                    FORM S-8
                             Registration Statement
                           The Securities Act of 1933

                           THERMO ELECTRON CORPORATION
             (Exact name of registrant as specified in its charter)

DELAWARE                                                              04-2209186
(State or other jurisdiction of                                 (I.R.S. Employer
incorporation or organization)                            Identification Number)

                                 81 Wyman Street
                        Waltham, Massachusetts 02454-9046
               (Address of Principal Executive Offices) (Zip Code)

                       2000 EMPLOYEES STOCK PURCHASE PLAN

                            (Full Title of the Plan)

                          Sandra L. Lambert, Secretary
                           Thermo Electron Corporation
                                 81 Wyman Street
                                 P. O. Box 9046
                        Waltham, Massachusetts 02454-9046
                     (Name and Address of Agent for Service)

                                 (781) 622-1000
          (Telephone Number, Including Area Code, of Agent For Service)

                                   Copies to:
                    Seth H. Hoogasian, Esq., General Counsel
                           Thermo Electron Corporation
                                 81 Wyman Street
                                 P. O. Box 9046
                        Waltham, Massachusetts 02454-9046


This Post-Effective Amendment No. 1 on Form S-8 is being filed by the Registrant
solely to correct  the name of the plan  registered  hereunder.  On October  23,
2000,  the  Registrant  filed  a  Registration   Statement  on  Form  S-8  which
inadvertently  referred to the plan registered hereunder as the "Thermo Electron
Corporation  Amended and Restated  Employees'  Stock Purchase Plan." The correct
name of the plan is the "2000 Employees Stock Purchase Plan."


     Pursuant to the requirements of the Securities Act of 1933, Thermo Electron
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 Waltham,  Commonwealth of Massachusetts,  on this 1st
day of June, 2001.

                                   THERMO ELECTRON CORPORATION

                                   By:  /s/ Sandra L. Lambert
                                        Sandra L. Lambert
                                   Its: Vice President, Secretary

                                POWER OF ATTORNEY

     Each  of  the  undersigned   Directors  and  Officers  of  Thermo  Electron
Corporation  hereby appoints Theo  Melas-Kyriazi,  Kenneth J. Apicerno,  Seth H.
Hoogasian  and  Sandra  L.  Lambert,  and  each of them,  his  true  and  lawful
attorneys-in-fact  and agents,  with full power of substitution,  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 all 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,  as fully to all  intents  and  purposes as he might or
could  do  in  person,   hereby   ratifying   and   confirming   all  that  said
attorneys-in-fact  and  agents  or any of them,  or their or his  substitute  or
substitutes, may lawfully do or cause to be done by virtue thereof.

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


Signature                             Title                                     Date

                                      Chief Executive Officer and
                                      Director (Principal
/s/ Richard F. Syron*                  Executive Officer)                       June 1, 2001
Richard F. Syron

                                      President, Chief Operating
/s/ Marijn E. Dekkers*                Officer and Director                      June 1, 2001
Marijn E. Dekkers

                                      Vice President and Chief
                                      Financial Officer (Principal
/s/ Theo Melas-Kyriazi*               Financial Officer)                        June 1, 2001
Theo Melas-Kyriazi

                                      Corporate Controller and
                                      Chief Accounting
                                      Officer (Principal
/s/ Peter E. Hornstra                 Accounting Officer)                       June 1, 2001
Peter E. Hornstra

/s/ Samuel W. Bodman*                 Director                                  June 1, 2001
Samuel W. Bodman

/s/ Peter O. Crisp*                   Director                                  June 1, 2001
Peter O. Crisp

/s/ Frank Jungers*                    Director                                  June 1, 2001
Frank Jungers

/s/ Jim P. Manzi*                     Director                                  June 1, 2001
Jim P. Manzi

/s/ Robert A. McCabe*                 Director                                  June 1, 2001
Robert A. McCabe

/s/ Hutham S. Olayan*                 Director                                  June 1, 2001
Hutham S. Olayan

/s/ Robert W. O'Leary*                Director                                  June 1, 2001
Robert W. O'Leary

*The  undersigned  Sandra L.  Lambert,  by signing her name hereto,  does hereby
execute this  Post-Effective  Amendment No. 1 to Registration  Statement on Form
S-3  (Reg.  No.  333-48432)  on  behalf of the  above-named  signatories  to the
Registration  Statement  pursuant to powers of attorney executed by such persons
and filed with the Securities and Exchange Commission.

By:  /s/ Sandra L. Lambert
     Sandra L. Lambert

                                  EXHIBIT INDEX

Number            Description

5*                Opinion of Seth H. Hoogaisan Esq. regarding legality.

23.1              Consent of Arthur Andersen LLP

23.2              Consent of Seth H. Hoogasian, Esq. (contained in his opinion
                  filed as Exhibit 5).

24                Power of Attorney (see signature pages to this Registration

* Previously filed.

                                                                   Exhibit 23.1

                    Consent of Independent Public Accountants

     As independent public  accountants,  we hereby consent to the incorporation
by reference in this Post-Effective Amendment No. 1 to Registration Statement on
Form S-8 of our report  dated  February 15,  2001,  included in Thermo  Electron
Corporation's  Annual Report on Form 10-K for the year ended  December 30, 2000,
and to all references to our Firm included in this Post-Effective Amendment.

Arthur Andersen LLP

Boston, Massachusetts
May 25, 2001