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                                  UNITED STATES

                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D. C. 20549

                                    FORM 8-K

                       Pursuant to Section 13 or 15(d) of
                       the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): March 3, 1998
                                                  -------------


                               ST. JOE CORPORATION
             (Exact name of registrant as specified in its charter)


            Florida                   1-10466              59-0432511
- -------------------------------     -----------       --------------------
(State or other jurisdiction of     (Commission         (I.R.S. Employer
        Incorporation)                File No.)        Identification No.)

Suite 400, 1650 Prudential Drive
Jacksonville, Florida                                         32207
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(Address of principal executive offices)                   (Zip Code)

Registrant's telephone number, including area code:      (904) 396-6600
                                                         --------------
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Item 5. Other Events

Incorporated by reference is a press release issued on March 3, 1998, attached
as Exhibit 99, announcing the Registant's 1997 year-end results.

Item 7. Financial Statements and Exhibits

(c) Exhibit
Exhibit 99 - Press release issued March 3, 1998
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                                   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 hereunto duly authorized.

                                             St. Joe Corporation

Date   March 4, 1998                         By: /s/Charles A. Ledsinger
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                                             Charles A. Ledsinger
                                             President, Chief Operating
                                             Officer, Chief Financial
                                                   Officer