<?xml version="1.0"?>
<!-- - EDGAR Ease Plus 1.0                                   07/25/03  TT    -->
<ownershipDocument>
    <schemaVersion>X0201</schemaVersion>

    <documentType>4</documentType>
   <periodOfReport>2003-07-31</periodOfReport>
   <notSubjectToSection16>0</notSubjectToSection16>
    <issuer>
        <issuerCik>0000098618</issuerCik>
        <issuerName>ALANCO TECHNOLOGIES INC</issuerName>
        <issuerTradingSymbol>alan</issuerTradingSymbol>
   </issuer>
   <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001194279</rptOwnerCik>
            <rptOwnerName>OMAN STEVE P</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O ALANCO TECHNOLOGIES INC</rptOwnerStreet1>
            <rptOwnerStreet2>15575 NORTH 83RD WAY STE 3</rptOwnerStreet2>
            <rptOwnerCity>SCOTTSDALE</rptOwnerCity>
            <rptOwnerState>AZ</rptOwnerState>
            <rptOwnerZipCode>85260</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
            <reportingOwnerRelationship>
         <isDirector>1</isDirector>
         <isOfficer>0</isOfficer>
         <isTenPercentOwner>0</isTenPercentOwner>
         <isOther>0</isOther>
      </reportingOwnerRelationship>
   </reportingOwner>
 <derivativeTable>
   <derivativeTransaction>
      <securityTitle>
         <value>Class A Common Stock Options</value>
      </securityTitle>
      <conversionOrExercisePrice>
         <value>.37</value>
      </conversionOrExercisePrice>
      <transactionDate>
         <value>2003-07-31</value>
      </transactionDate>
      <transactionCoding>
         <transactionFormType>4</transactionFormType>
         <transactionCode>A</transactionCode>
         <equitySwapInvolved>0</equitySwapInvolved>
      </transactionCoding>
      <transactionAmounts>
         <transactionShares>
           <value>40000</value>
         </transactionShares>
         <transactionPricePerShare>
           <value>.37</value>
         </transactionPricePerShare>
         <transactionAcquiredDisposedCode>
           <value>A</value>
         </transactionAcquiredDisposedCode>
      </transactionAmounts>
      <exerciseDate>
         <value>2003-07-31</value>
      </exerciseDate>
      <expirationDate>
         <value>2013-07-31</value>
      </expirationDate>
      <underlyingSecurity>
         <underlyingSecurityTitle>
           <value>Class A Common Stock</value>
         </underlyingSecurityTitle>
         <underlyingSecurityShares>
           <value>40000</value>
         </underlyingSecurityShares>
      </underlyingSecurity>
      <postTransactionAmounts>
         <sharesOwnedFollowingTransaction>
           <value>165000</value>
         </sharesOwnedFollowingTransaction>
      </postTransactionAmounts>
      <ownershipNature>
         <directOrIndirectOwnership>
           <value>D</value>
         </directOrIndirectOwnership>
      </ownershipNature>
   </derivativeTransaction>
 </derivativeTable>
   <ownerSignature>
      <signatureName>Steven P. Oman</signatureName>
      <signatureDate>2003-08-15</signatureDate>
   </ownerSignature>
</ownershipDocument>
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X0201
4
2003-07-31
0
0000098618
ALANCO TECHNOLOGIES INC
alan
0001194279
OMAN STEVE P
C/O ALANCO TECHNOLOGIES INC
15575 NORTH 83RD WAY STE 3
SCOTTSDALE
AZ
85260
1
0
0
0
Class A Common Stock Options
.37
2003-07-31
4
A
0
40000
.37
A
2003-07-31
2013-07-31
Class A Common Stock
40000
165000
D
Steven P. Oman
2003-08-15