OPPENHEIMER HIGH YIELD FUND INC
NSAR-A, 1997-02-27
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002 A000000 3410 SOUTH GALENA STREET
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020 A000001 PAINEWEBBER, INC.
020 B000001 13-2638166
020 C000001      5
020 A000002 SMITH BARNEY, HARRIS UPHAM & CO., INC.
020 B000002 13-3371860
020 C000002      2
020 A000003 JEFFERIES & CO., INC.
020 B000003 95-2622900
020 C000003      1
020 A000004 BRIDGE TRADING CO.
020 B000004 43-1450530
020 C000004      1
020 A000005 DONALDSON, LUFKIN & JENRETTE SECURITIES CORP.
020 B000005 13-2741729
020 C000005      1
020 A000006 BEAR SECURITIES CORP.
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020 C000006      0
020 A000007 LAWRENCE (CJ), INC.
020 B000007 13-2730828
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020 A000008 KEEFE, BRUYETTE & WOODS, INC.
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022 A000001 ZION FIRST NATIONAL BANK
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022 A000002 GOLDMAN, SACHS & CO.
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022 A000009 CHASE MANHATTAN BANK, NA (THE)
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SIGNATURE   GEORGE C. BOWEN                              
TITLE       TREASURER           
 

WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE> 6                                             
<CIK>                                                                276195
<NAME>        OPPENHEIMER HIGH YIELD CLASS A
       
<S>                                                     <C>
<PERIOD-TYPE>                                           6-MOS
<FISCAL-YEAR-END>                                       JUN-30-1997
<PERIOD-START>                                          JUL-01-1996
<PERIOD-END>                                            DEC-31-1996
<INVESTMENTS-AT-COST>                                         1,442,444,379
<INVESTMENTS-AT-VALUE>                                        1,495,578,883
<RECEIVABLES>                                                    33,406,658
<ASSETS-OTHER>                                                      187,594
<OTHER-ITEMS-ASSETS>                                              1,726,684
<TOTAL-ASSETS>                                                1,530,899,819
<PAYABLE-FOR-SECURITIES>                                         13,885,942
<SENIOR-LONG-TERM-DEBT>                                                   0
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<SENIOR-EQUITY>                                                           0
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<OVERDISTRIBUTION-GAINS>                                                  0
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<EXPENSES-NET>                                                    8,458,299
<NET-INVESTMENT-INCOME>                                          66,150,672
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<RETURNS-OF-CAPITAL>                                                      0.00
<PER-SHARE-NAV-END>                                                      13.98
<EXPENSE-RATIO>                                                           0.99
<AVG-DEBT-OUTSTANDING>                                                    0
<AVG-DEBT-PER-SHARE>                                                      0.00
        

</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE> 6                                             
<CIK>                                                                276195
<NAME>        OPPENHEIMER HIGH YIELD CLASS B
       
<S>                                                     <C>
<PERIOD-TYPE>                                           6-MOS
<FISCAL-YEAR-END>                                       JUN-30-1997
<PERIOD-START>                                          JUL-01-1996
<PERIOD-END>                                            DEC-31-1996
<INVESTMENTS-AT-COST>                                         1,442,444,379
<INVESTMENTS-AT-VALUE>                                        1,495,578,883
<RECEIVABLES>                                                    33,406,658
<ASSETS-OTHER>                                                      187,594
<OTHER-ITEMS-ASSETS>                                              1,726,684
<TOTAL-ASSETS>                                                1,530,899,819
<PAYABLE-FOR-SECURITIES>                                         13,885,942
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<INTEREST-INCOME>                                                73,502,798
<OTHER-INCOME>                                                            0
<EXPENSES-NET>                                                    8,458,299
<NET-INVESTMENT-INCOME>                                          66,150,672
<REALIZED-GAINS-CURRENT>                                          8,449,869
<APPREC-INCREASE-CURRENT>                                        39,055,145
<NET-CHANGE-FROM-OPS>                                           113,655,686
<EQUALIZATION>                                                            0
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<DISTRIBUTIONS-OF-GAINS>                                                  0
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<PER-SHARE-NII>                                                           0.58
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<RETURNS-OF-CAPITAL>                                                      0.00
<PER-SHARE-NAV-END>                                                      13.89
<EXPENSE-RATIO>                                                           1.79
<AVG-DEBT-OUTSTANDING>                                                    0
<AVG-DEBT-PER-SHARE>                                                      0.00
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6                                             
<CIK>                                                                276195
<NAME>        OPPENHEIMER HIGH YIELD CLASS C
       
<S>                                                     <C>
<PERIOD-TYPE>                                           6-MOS
<FISCAL-YEAR-END>                                       JUN-30-1997
<PERIOD-START>                                          JUL-01-1996
<PERIOD-END>                                            DEC-31-1996
<INVESTMENTS-AT-COST>                                         1,442,444,379
<INVESTMENTS-AT-VALUE>                                        1,495,578,883
<RECEIVABLES>                                                    33,406,658
<ASSETS-OTHER>                                                      187,594
<OTHER-ITEMS-ASSETS>                                              1,726,684
<TOTAL-ASSETS>                                                1,530,899,819
<PAYABLE-FOR-SECURITIES>                                         13,885,942
<SENIOR-LONG-TERM-DEBT>                                                   0
<OTHER-ITEMS-LIABILITIES>                                        11,623,516
<TOTAL-LIABILITIES>                                              25,509,458
<SENIOR-EQUITY>                                                           0
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<SHARES-COMMON-PRIOR>                                               566,325
<ACCUMULATED-NII-CURRENT>                                                 0
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<ACCUMULATED-NET-GAINS>                                        (197,738,136)
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<DIVIDEND-INCOME>                                                 1,106,173
<INTEREST-INCOME>                                                73,502,798
<OTHER-INCOME>                                                            0
<EXPENSES-NET>                                                    8,458,299
<NET-INVESTMENT-INCOME>                                          66,150,672
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<EQUALIZATION>                                                            0
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<DISTRIBUTIONS-OF-GAINS>                                                  0
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</TABLE>


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