UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                              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): February 18, 2004


                          AMERICAN ECOLOGY CORPORATION

             (EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)


           DELAWARE                       0-11688              95-3889638
           --------                       -------              ----------
(State or other jurisdiction of  (Commission File Number)   (I.R.S. Employer
incorporation or organization)                            Identification Number)

      Lakepointe Centre I,
   300 E. Mallard, Suite 300
         Boise, Idaho                                            83706
                                                                 -----
(Address of principal executive                                (Zip Code)
          offices)


                                 (208) 331-8400
                                 --------------
              (Registrant's telephone number, including area code)



ITEM  5.   OTHER  EVENTS.

On  February  18,  2004,  the  Company issued a press release entitled "AMERICAN
ECOLOGY  REDEEMS  COMMON  STOCK  WARRANT  FOR $5.5 MILLION".  The press release,
dated February 18, 2004, is attached as Exhibit 99 and incorporated by reference
herein.  The  Warrant  Redemption Agreement, dated February 18, 2004 is attached
as  Exhibit  99.1  and  incorporated  by  reference  herein.



           
Exhibit 99    Press Release, dated February 18, 2004, entitled "AMERICAN ECOLOGY REDEEMS
              COMMON STOCK WARRANT FOR $5.5 MILLION "
Exhibit 99.1  Warrant Redemption Agreement dated February 18, 2004



                                        2

SIGNATURES
----------

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  thereunto  duly  authorized.


                              AMERICAN ECOLOGY CORPORATION
                                       (Registrant)




Date:  February 18, 2004      By: /S/ James  R.  Baumgardner
                                 -----------------------------------------------
                                 James R. Baumgardner
                                 Senior Vice President, Chief Financial Officer,
                                 Secretary and Treasurer


                                        3



                                      EXHIBIT INDEX



Exhibit       Description
------------  -----------
           
Exhibit 99    Press Release, dated February 18, 2004, entitled "AMERICAN ECOLOGY REDEEMS
              COMMON STOCK WARRANT FOR $5.5 MILLION".
Exhibit 99.1  Warrant Redemption Agreement dated February 18, 2004