UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-CSR

CERTIFIED SHAREHOLDER REPORT OF REGISTERED

MANAGEMENT INVESTMENT COMPANIES

Item 1. Reports to Stockholders

Eaton Vance Senior Floating-Rate Trust as of October 31, 2006

MANAGEMENT’S DISCUSSION OF TRUST PERFORMANCE

Performance for the Past Year

·                  Based on share price, Eaton Vance Senior Floating-Rate Trust (the “Trust”), a closed-end fund traded on the New York Stock Exchange, had a total return of 15.27% for the year ended October 31, 2006. That return was the result of an increase in share price to $18.24 on October 31, 2006 from $17.21 on October 31, 2005 and the reinvestment of $1.519 in dividends.(1)

·                  Based on net asset value (NAV), the Trust had a total return of 8.47% for the year ended October 31, 2006. That return was the result of a decrease in NAV to $18.69 on October 31, 2006 from $18.74 on October 31, 2005, and the reinvestment of all distributions.(1)

·                  Based on its October 2006 monthly dividend payment of $0.135 and a closing share price of $18.24, the Trust had a market yield of 8.88%.(2)

·                  For performance comparison, the S&P/LSTA Leveraged Loan Index – an unmanaged index of U.S. dollar-denominated leveraged loans – had a total return of 6.49% for the year ended October 31, 2006.(3) The Lipper Loan Participation Funds Classification – the Trust’s peer group – had an average total return of 7.20%, at net asset value, and a 15.00% annual return at share price during the same period.(3)

The Trust’s Investments

·                  The Trust’s loan investments included 450 borrowers at October 31, 2006, with an average loan size of 0.19% of total assets and no industry constituting more than 7.00% of the Trust. Health care, chemicals and plastics, building and development (including manufacturers of building products and companies that manage/own apartments, shopping malls and commercial office buildings, among others), leisure goods/activities/movies and business equipment and services were the largest industry weightings.(4)

·                  The loan market enjoyed relatively stable fundamentals during the fiscal year. Technical factors came more into balance, as record new issuance from strong merger activity met robust investor demand. As a result, credit spreads stabilized after a period during which they had narrowed. The Trust also benefited from an increase in the London Inter-Bank Offered Rate – the benchmark over which loan interest rates are typically set – which rose in response to rate hikes from the Federal Reserve.

·                  At October 31, 2006, the Trust had leverage in the amount of approximately 39% of the Trust’s total assets. The Trust employs leverage though the issuance of Auction Preferred Shares (“APS”).(5) Use of financial leverage creates an opportunity for increased income but, at the same time, creates special risks (including the likelihood of greater volatility of net asset value and market price of common shares). The cost of the Trust’s APS rises and falls with changes in short-term interest rates. Such increases/decreases in cost of the Trust’s APS may be offset by increased/decreased income from the Trust’s senior loan investments.

The views expressed in this report are those of the portfolio managers and are current only through the end of the period of the report as stated on the cover. These views are subject to change at any time based upon market or other conditions, and Eaton Vance disclaims any responsibility to update such views. These views may not be relied on as investment advice and, because investment decisions for an Eaton Vance fund are based on many factors, may not be relied on as an indication of trading intent on behalf of any Eaton Vance fund.

Past performance is no guarantee of future results. Returns are historical and are calculated by determining the percentage change in net asset value or share price (as applicable) with all distributions reinvested. Investment return and principal value will fluctuate so that shares, when sold, may be worth more or less than their original cost. Performance is for the stated time period only; due to market volatility, the Trust’s current performance may be lower or higher than the quoted return. For performance as of the most recent month end, please refer to www.eatonvance.com.

Shares of the Trust are not insured by the FDIC and are not deposits or other obligations of, or guaranteed by, any depository institution. Shares are subject to investment risks, including possible loss of principal invested.

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Performance(1)

Average Annual Total Return (by share price, NYSE)

Average Annual Total Return (at net asset value)

(1)       Performance results reflect the effect of leverage resulting from the Trust’s issuance of Auction Preferred Shares. In the event of a rise in long-term interest rates, the value of the Trust’s investment portfolio could decline, which would reduce the asset coverage for its Auction Preferred Shares.

Past performance is no guarantee of future results. Returns are historical and are calculated by determining the percentage change in net asset value or share price (as applicable) with all distributions reinvested. Investment return and principal value will fluctuate so that shares, when sold, may be worth more or less than their original cost. Performance is for the stated time period only; due to market volatility, the Fund’s current performance may be lower or higher than the quoted return. For performance as of the most recent month end, please refer to www.eatonvance.com.

Diversification by Industries(2)

By total investments

(2)          Reflects the Trust’s investments as of October 31, 2006. Industries are shown as a percentage of the Trust’s total loan and corporate bond and note investments. Portfolio information may not be representative of current or future investments and are subject to change due to active management.

Diversification by Sectors (3)

(3)          Diversification by Sectors reflects the Trust’s total investments as of October 31, 2006. Sectors are shown as a pecentage of the Trust’s total investments. Trust statistics may not be representative of the Trust’s current or furture investments and are subject to change due to active management.

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