The present invention is an aqueous etanercept formulation stabilized to reduce instability, aggregation and/or fragmentation of the etanercept, said formulation comprising about 25 to about 75 mg/ml of etanercept and one or more stabilizers, wherein the stabilizers are selected from the group consisting of sodium chloride; and sodium chloride in combination with sucrose or trehalose; and a combination of sodium chloride, sucrose and trehalose. Various technical terms used in the following discussion are defined below in the section entitled "Definitions" and throughout the remainder of the specification. The stabilized etanercept formulations of the present invention elicit long term storage stability.