<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0303</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2010-07-01</periodOfReport>

    <notSubjectToSection16>1</notSubjectToSection16>

    <issuer>
        <issuerCik>0001087774</issuerCik>
        <issuerName>OPPENHEIMER SENIOR FLOATING RATE FUND</issuerName>
        <issuerTradingSymbol>NONE</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001187764</rptOwnerCik>
            <rptOwnerName>FOSSEL JON S</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>UNUM GROUP</rptOwnerStreet1>
            <rptOwnerStreet2>1 FOUNTAIN SQUARE</rptOwnerStreet2>
            <rptOwnerCity>CHATTANOOGA</rptOwnerCity>
            <rptOwnerState>TN</rptOwnerState>
            <rptOwnerZipCode>37402</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <ownerSignature>
        <signatureName>/s/ Jon S. Fossel</signatureName>
        <signatureDate>2010-07-13</signatureDate>
    </ownerSignature>
</ownershipDocument>
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X0303
4
2010-07-01
1
0001087774
OPPENHEIMER SENIOR FLOATING RATE FUND
NONE
0001187764
FOSSEL JON S
UNUM GROUP
1 FOUNTAIN SQUARE
CHATTANOOGA
TN
37402
1
0
0
0
/s/ Jon S. Fossel
2010-07-13