UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number:      811-21126          

          BlackRock Municipal Income Trust II          
(Exact name of registrant as specified in charter)

100 Bellevue Parkway, Wilmington, DE 
19809 
(Address of principal executive offices) 
(Zip code) 

Robert S. Kapito, President
BlackRock Municipal Income Trust II
40 East 52nd Street, New York, NY 10022
(Name and address of agent for service)

Registrant's telephone number, including area code:     888-825-2257                                        

Date of fiscal year end:      August 31, 2006
Date of reporting period:   November 30, 2005

Item 1. Schedule of Investments.

The Registrant’s unaudited schedule of investments as of the close of the reporting period pursuant to Rule 30b1-5 under the Investment Company Act of 1940 is as follows:

PORTFOLIO OF INVESTMENTS
NOVEMBER 30, 2005 (Unaudited)

BlackRock Municipal Income Trust II (BLE)

      Principal            
        Amount       Option Call    
    Rating1   (000)   Description   Provisions2   Value  
          LONG-TERM INVESTMENTS—155.6%        
            Arizona—0.9%        
    AA   $ 2,970   Salt River Proj. Agricultral Impvt. & Pwr. Dist., Ser. A, 5.00%, 1/01/35   01/16 @ 100   $ 3,074,485  
            California—10.4%        
    A   2,250   Agua Caliente Band, Cahuilla Indians Proj., 6.00%, 7/01/18   07/13 @ 100   2,370,150  
    A-   20,000   Golden St. Tobacco Sec. Corp., Ser. A, 5.00%, 6/01/45   06/15 @ 100   19,940,600  
    A   3,500   Mobilehome Park Fin. Auth., Palomar Estates East & West Proj., Ser. A, 5.25%, 3/15/34, ACA   03/13 @ 102   3,584,945  
    NR   4,620   San Francisco City & Cnty. Redev. Agcy., Cmnty. Facs. Dist., Mission Bay South Proj.,        
                6.625%, 8/01/27   08/11 @ 101   5,001,473  
    A   5,000   Statewide Cmnty. Dev. Auth. Mem. Hlth. Svcs. Proj., Ser. A, 5.50%, 10/01/33   04/13 @ 100   5,235,550  
                    36,132,718  
            Colorado—4.7%        
    AA   10,000 3      Hlth. Facs. Auth., Catholic Hlth. Initiatives Proj., Ser. A, 5.50%, 3/01/32   ETM   10,727,900  
    AAA   4,000   Northwest Pkwy. Pub. Hwy. Auth., Ser. A, 5.25%, 6/15/41, FSA   06/11 @ 102   4,208,480  
    AAA   1,375   Springs Co. Utils. Rev. Sub., Ser. C, 5.00%, 11/15/45, FSA   11/15 @ 100   1,404,136  
                    16,340,516  
            District of Columbia—6.3%        
    A   1,265   Friendship Pub. Charter Sch., Inc. Proj., 5.25%, 6/01/33, ACA   06/14 @ 100   1,277,068  
            Tobacco Settlement Fin. Corp.,        
    BBB   7,500       6.50%, 5/15/33   No Opt. Call   8,408,100  
    BBB   11,500       6.75%, 5/15/40   05/11 @ 101   12,424,945  
                    22,110,113  
            Florida—14.7%        
    NR   515   Fishhawk Cmnty. Dev. Dist. II, Spec. Assmt. Rev, Ser. B, 5.00%, 11/01/07   No Opt. Call   514,253  
    NR   4,780   Lakes by the Bay So. Cmnty. Dev. Dist., Spl. Assmt., Ser. A, 6.25%, 5/01/34   05/14 @ 101   5,057,097  
    A-   2,650   Leesburg Hosp., Leesburg Regl. Med. Ctr. Proj., 5.50%, 7/01/32   07/12 @ 100   2,730,825  
    NR4   3,165   Live Oak Comm. Dev., Dist. No. 1 Spec. Assmt. Rev., Ser. A, 6.30%, 5/01/34   05/13 @ 101   3,288,752  
    BB+   6,230   Miami Beach Hlth. Facs. Auth., Mt. Sinai Med. Ctr. Proj., 6.75%, 11/15/21   11/14 @ 100   7,002,333  
    A+   6,850   Orange Cnty. Hlth. Facs. Auth., Hosp. Adventist Hlth. Sys. Proj., 5.625%, 11/15/32   11/12 @ 101   7,262,781  
    AA-   14,000   Pinellas Cnty. Hlth. Fac. Auth., Baycare Hlth. Sys. Proj., 5.50%, 11/15/33   05/13 @ 100   14,660,520  
    NR   2,085   Stevens Plantation Cmnty. Dev. Dist., Spl. Assmt. Rev., Ser. A, 7.10%, 5/01/35   05/14 @ 100   2,137,938  
    NR   4,575   Sumter Cnty. Ind. Dev. Auth., No. Sumter Util. Co. LLC, 6.90%, 10/01/34   10/09 @ 100   4,801,142  
    NR   3,715   Sumter Landing Cmnty. Dev., Spec. Assmt. Rev., 6.875%, 5/01/23   05/13 @ 101   3,940,240  
                    51,395,881  
            Georgia—2.7%        
    AAA   4,000   Atlanta Arpt. Passenger Fac., Ser. J, 5.00%, 1/01/34, FSA   01/15 @ 100   4,117,440  
    BBB   5,000   Milledgeville-Baldwin Cnty. Dev. Auth., Georgia Coll. & St. Univ. Fndtn. Proj.,        
                5.625%, 9/01/30   09/14 @ 101   5,241,700  
                    9,359,140  
            Illinois—17.0%        
    AAA   4,000   Bolingbrook, GO, Ser. A, 5.375%, 1/01/38, FGIC   01/12 @ 100   4,197,000  
    NR   2,470 5 Centerpoint Intermodal Ctr. Prog. Trust, Ser. A, 8.00%, 6/15/23   No Opt. Call   2,491,637  
    A+   7,500 6 Dev. Fin. Auth. Hosp. Rev., Adventist Hlth. Sys. Sunbelt Oblig. Proj., 5.65%, 11/15/24   11/09 @ 101   7,818,750  
    BB+   910   Fin. Auth. Rev., Friendship Vlg. Schaumburg Proj., Ser. A, 5.625%, 2/15/37   02/15 @ 100   892,528  
            Fin. Auth. Student Hsg., MJH Ed. Asst. Living Proj.,        
    Baa2   1,125       Ser. A, 5.125%, 6/01/35   06/14 @ 100   1,109,002  
    Baa3   900       Ser. B, 5.375%, 6/01/35   06/14 @ 100   887,544  
    AA+   1,880   Fin. Auth., Northwestern Mem. Hosp. Proj., Ser. A, 5.50%, 8/15/43   08/14 @ 100   1,984,810  
    A   8,000   Hlth. Facs. Auth., Elmhurst Mem. Hlth. Care Proj., 5.50%, 1/01/22   01/13 @ 100   8,366,320  
            Met. Pier & Exposition Auth., Ded. St. Tax Rev., McCormick Place Expansion Proj.,        
    AAA   45,190       Ser. A, Zero Coupon, 6/15/33, MBIA   No Opt. Call   11,635,973  
    AAA   5,000       Ser. A, Zero Coupon, 6/15/40, MBIA   No Opt. Call   902,600  
            O’Hare Intl. Arpt.,        
    AAA   2,100       Ser. A, 5.00%, 1/01/30, MBIA   01/15 @ 100   2,156,952  
    AAA   4,290       Ser. C-2, 5.25%, 1/01/30, FSA   01/14 @ 100   4,423,548  
    AAA   $15,000   Sports Facs. Auth., Ded. St. Tax Supported Rev., Zero Coupon, 6/15/30, AMBAC   06/15 @ 101   12,538,050  
                    59,404,714  
 

1

BlackRock Municipal Income Trust II (BLE) (continued)

                   
      Principal            
        Amount       Option Call    
    Rating1   (000)   Description   Provisions2   Value  
          Indiana—8.9%        
    BB-   5,500   Fort Wayne, PCR, Gen. Mtrs. Corp. Proj., 6.20%, 10/15/25   12/12 @ 101   $ 4,361,720  
    AA   5,000   Hlth. Fac. Fin. Auth., Ascension Hlth. Proj., Ser. F, 5.375%, 11/15/25   11/12 @ 101   5,231,600  
    AAA   19,735 7      Indianapolis Local Pub. Impvt. Bond Bank, Wtr. Wks. Proj., Ser. A, 5.25%, 7/01/12, MBIA   N/A   21,588,906  
                    31,182,226  
            Louisiana—0.7%        
    Baa1   2,485   Local Gov’t. Env. Facs. & Cmnty. Dev. Auth., Oakleigh Apts. Proj., Ser. A, 6.375%, 6/01/38   06/13 @ 102   2,522,573  
            Maryland—1.8%        
    NR   3,000   Frederick Cnty. Spl. Oblig., Urbana Cmnty. Dev. Auth. Proj., Ser. A, 5.95%, 7/01/30   07/07 @ 102   3,047,940  
    Baa1   2,240   Hlth. & Higher Edl. Facs. Auth. Medstar Hlth. Proj., 5.50%, 8/15/33   08/14 @ 100   2,302,115  
    A   1,000   Hlth. & Higher Edl. Facs. Auth. Union Hosp. of Cecil Cnty. Proj., 5.625%, 7/01/32   07/12 @ 100   1,045,990  
                    6,396,045  
            Massachusetts—0.6%        
    AAA   1,910   Tpke. Auth., Met. Hwy. Sys. Rev., Ser. A, 5.00%, 1/01/37, MBIA   01/07 @ 102   1,937,600  
            Mississippi—1.7%        
    BBB   4,950   Lowndes Cnty. Sld. Wst. Disp., PCR, Weyerhaeuser Co. Proj., Ser. A, 6.80%, 4/01/22   No Opt. Call   5,960,493  
            Missouri—1.8%        
    NR   6,000   Dept. of Transp., Rt. 370/Missouri Bottom Rd./Taussig Rd. Proj., 7.20%, 5/01/33   05/13 @ 100   6,354,780  
            Multi-State—3.8%        
            Charter Mac Equity Issuer Trust,        
    A3   1,000 5       Ser. A, 5.75%, 4/30/15   No Opt. Call   1,057,280  
    A3   3,500 5       Ser. A, 6.00%, 4/30/19   No Opt. Call   3,718,890  
    Baa1   5,000 5       Ser. B, 6.00%, 4/30/15   No Opt. Call   5,222,350  
    NR   3,000 5       Ser. B, 6.30%, 4/30/19   No Opt. Call   3,190,080  
                    13,188,600  
            Nevada—0.9%        
    NR   2,925   Henderson Local Impvt. Dist. No. T-14, 5.80%, 3/01/23   03/06 @ 103   3,017,021  
            New Jersey—12.2%        
            Econ. Dev. Auth.,        
    BBB   9,000       Cigarette Tax Rev., 5.50%, 6/15/31   06/14 @ 100   9,266,400  
    BBB   4,000       Cigarette Tax Rev., 5.75%, 6/15/34   06/14 @ 100   4,187,000  
    B   10,100       Continental Airlines, Inc. Proj., 7.20%, 11/15/30   11/10 @ 101   9,116,563  
    Baa3   7,475       Kapkowski Rd. Landfill Proj., 6.50%, 4/01/28   No Opt. Call   8,602,454  
    Baa3   10,000       Kapkowski Rd. Landfill Proj., 6.50%, 4/01/31   No Opt. Call   11,276,200  
                    42,448,617  
            New Mexico—1.4%        
    Baa1   5,200   Hsg. Auth., Region III, Villa Delaware Oso Apts. Proj., Ser. A, 6.00%, 1/01/38   01/13 @ 102   4,760,184  
            New York—11.1%        
    AAA   2,845   Env. Facs. Corp., St. Clean Wtr. & Drinking Wtr. Rev., NYC Mun. Wtr. Proj., Ser. B,        
                5.00%, 6/15/31   06/12 @ 100   2,929,525  
    AA-   10,350   Liberty Dev. Corp. Rev. Proj., 5.25%, 10/01/35   No Opt. Call   11,453,000  
    AAA   3,775   Met. Transp. Auth. Svc. Contract, Ser. A, 5.00%, 7/01/30, AMBAC   07/12 @ 100   3,885,570  
    B-   6,700   New York City Indl. Dev. Agcy., 7.75%, 8/01/31   08/16 @ 101   6,470,324  
    AA+   1,710   New York City Mun. Wtr. Fin. Auth., Ser. A, 5.00%, 6/15/39   06/15 @ 100   1,751,656  
    NR   11,785   New York Cntys. Tobacco Trust III, Zero Coupon, 6/01/38   06/15 @ 26.19   1,737,580  
    Caa2   8,800   Port Auth. of NY & NJ, Spec. Oblig. Rev., Contl/Eastn. LaGuardia Proj., 9.00%, 12/01/10   01/06 @ 100   8,815,224  
    AAA   1,805   Sales Tax Asset Receivable Corp., Ser. A, 5.00%, 10/15/32, AMBAC   10/14 @ 100   1,876,947  
                    38,919,826  
            North Carolina—3.3%        
    AA+   3,670   Cap. Fac. Fin. Agcy., Ser. A, 5.00%, 10/01/41   10/15 @ 100   3,770,118  
    NR   7,500   Gaston Cnty. Indl. Facs. & Poll. Ctrl. Fin. Auth., 5.75%, 8/01/35   08/15 @ 100   7,860,450  
                    11,630,568  
            Ohio—4.0%        
    AAA   9,140   Air Qual. Dev. Auth., 4.80%, 1/01/34, FGIC   07/15 @ 100   9,167,511  
    AAA   4,800   Wtr. Dev. Auth. Poll. Ctrl. Facs. Rev., Dayton Pwr. & Lt. Proj., Ser. A, 4.80%, 1/01/34, FGIC   07/15 @ 100   4,755,984  
                    13,923,495  
 

2

BlackRock Municipal Income Trust II (BLE) (continued)

      Principal            
        Amount       Option Call    
    Rating1   (000)   Description   Provisions2   Value  
          Oklahoma—1.1%        
    B-   $ 3,925   Tulsa Mun. Arpt. Trust, Ser. A, 7.75%, 6/01/35   No Opt. Call   $ 3,981,010  
            Pennsylvania—6.3%        
    BB-   10,565   Econ. Dev. Fin. Auth. Exempt Facs. Rev., Reliant Energy Conv. Proj., Ser. A,        
                6.75%, 12/01/36   12/09 @ 103   11,254,789  
    A3   5,175   Econ. Dev. Fin. Auth. Amtrak Proj., Ser. A, 6.375%, 11/01/41   05/11 @ 101   5,524,933  
    BBB+   5,000   Monroe Cnty. Hosp. Auth., Hosp. Pocono Med. Ctr. Proj., 6.00%, 1/01/43   01/14 @ 100   5,267,450  
                    22,047,172  
            South Carolina—6.7%        
            Greenwood Cnty. Hosp., Self Mem. Hosp. Facs. Proj.,        
    A   3,280       5.50%, 10/01/26   10/11 @ 100   3,401,918  
    A   3,250       5.50%, 10/01/31   10/11 @ 100   3,367,455  
            Jobs Econ. Dev. Auth. Hosp., Facs. Rev.,        
    BBB+   2,640       Palmetto Hlth. Alliance Proj., Ser. A, 6.25%, 8/01/31   08/13 @ 100   2,847,557  
    BBB+   5,000       Palmetto Hlth. Alliance Proj., Ser. C, 6.875%, 8/01/27   08/13 @ 100   5,786,000  
    AA   3,750   Jobs Econ. Dev. Auth., Hosp. Facs. Rev. Georgetown Mem. Hosp. Proj., 5.375%,
    2/01/30, RAA
  
08/11 @ 100
 
3,900,600
  
    NR   3,864   Lancaster Cnty. Assmt., Edgewater Impvt. Dist. Proj., Ser. A, 6.875%, 11/01/35   11/13 @ 101   3,974,510  
                    23,278,040  
            Tennesee—2.6%        
    AAA   20,405   Knox Cnty. Hlth. Edl. & Hsg. Facs. Brd., Hosp. Facs. Rev., Ser. A, Zero Coupon,        
                1/01/21, FSA  
01/13 @ 63.44
 
9,035,130
            Texas—16.5%        
    BBB   1,650   Brazos River Auth., PCR, TXU Elec. Co. Proj., Ser. C, 6.75%, 10/01/38   10/13 @ 101   1,813,829  
    AAA   2,015   Dallas Area Rapid Trans., 5.00%, 12/01/31, AMBAC   12/11 @ 100   2,057,819  
    BBB   20,000   Gulf Coast Wst. Disp. Auth., Env. Impvt. Rev., Ser. A, 6.10%, 8/01/24   08/12 @ 100   21,161,400  
    AAA   25,375   Harris Cnty. Houston Sports Auth., Ser. A-3, Zero Coupon, 11/15/36, MBIA   11/24 @ 49.423   4,545,170  
            Tpke. Auth., Central Sys. Rev.,          
    AAA   73,370       Zero Coupon, 8/15/36, AMBAC   08/12 @ 24.171   12,858,092
    AAA   65,000       Zero Coupon, 8/15/37, AMBAC   08/12 @ 22.708   10,704,200
    AAA   27,600       Zero Coupon, 8/15/38, AMBAC   08/12 @ 21.384   4,280,208  
                    57,420,718  
            Virginia—6.4%        
    NR4   13,190   Alexandria Redev. & Hsg. Auth., 3001 Park Ctr. Apts. Proj., Ser. A, 6.375%, 4/01/34   04/08 @ 103   12,599,352  
    AAA   9,000   Halifax Cnty. Indl. Dev. Auth., Exempt Fac. Rev., Old Dominion Elec. Coop. Proj.,        
                5.625%, 6/01/28, AMBAC   06/13 @ 101   9,616,140  
                    22,215,492  
            West Virginia—1.8%        
    AAA   1,115   Econ. Dev. Auth., Correctional Juvenile Safety Proj., Ser. A, 5.00%, 6/01/29, MBIA   06/14 @ 100   1,153,969  
    BBB+   5,000   Mason Cnty., PCR, Appalachian Pwr. Co. Proj., Ser. L, 5.50%, 10/01/22   10/11 @ 100   5,114,400  
                    6,268,369  
            Wisconsin—5.3%        
            Hlth. & Edl. Facs. Auth.,        
    A-   3,930       Aurora Hlth. Care Proj., 6.40%, 4/15/33   04/13 @ 100   4,303,035  
    A-   4,000       Synergy Hlth., Inc. Proj., 6.00%, 11/15/32   08/13 @ 100   4,243,320  
    A   5,000       Wheaton Franciscan Svcs. Proj., 5.75%, 8/15/25   02/12 @ 101   5,291,950  
            Pub. Pwr, Inc. Sys.,        
    AAA   3,500       Ser. A, 5.00%, 7/01/35, AMBAC   07/15 @ 100   3,612,770  
    AAA   1,140       Ser. A, 5.00%, 7/01/37, AMBAC   07/15 @ 100   1,172,285  
                    18,623,360  
            Total Long-Term Investments (cost $515,907,684)       542,928,886  
            SHORT-TERM INVESTMENTS—0.6%        
            California—0.0%        
    A-1   75 8      Hlth. Facs. Fin. Auth., Scripps Hlth. Proj., Ser. B, 2.64%, 12/14/05, MBIA, FRWD   N/A   75,000  

3

BlackRock Municipal Income Trust II (BLE) (continued)

                   
        Shares            
        (000)   Description       Value  
          Money Market Fund—0.6%        
        2,200       AIM Tax Free Investment Co. Cash Reserve Portfolio       $ 2,200,000  
            Total Short-Term Investments (cost $2,275,000)       2,275,000  
            Total Investments—156.2% (cost $518,182,6899)       $545,203,886  
            Other assets in excess of liabilities—2.7%       9,458,683  
            Preferred shares at redemption value, including dividends payable—(58.9)%       (205,609,352)  
            Net Assets Applicable to Common Shareholders—100%       $349,053,217  

1   Using the higher of Standard & Poor’s, Moody’s Investor Service or Fitch’s Ratings rating.  
2   Date (month/year) and price of the earliest optional call or redemption. There may be other call provisions at varying prices at later dates.  
3   Security is collateralized by U.S. Treasury obligations.  
4   Security is deemed to be of investment grade quality by the investment advisor.  
5   Security is not registered under the Securities Act of 1933. These securities may be resold in transactions in accordance with Rule 144A under that Act, to qualified institutional buyers. As of November 30, 2005, the Trust held 4.5% of its net assets, with a current market value of $15,680,237, in securities restricted as to resale.  
6   Security, or a portion thereof, pledged as collateral with a value of $2,569,800 on 451 short U.S. Treasury Note futures contracts expiring December 2005, 332 short U.S. Treasury Note futures contracts expiring March 2006 and 286 short U.S. Treasury Bond futures contracts expiring March 2006. The value of such contracts on November 30, 2005 was $117,112,516, with an unrealized gain of $1,505,201.  
7   This bond is prerefunded. U.S. government securities, held in escrow, are used to pay interest on this security, as well as retire the bond in full at the date indicated, typically at a premium to par.  
8   For purpose of amortized cost valuation, the maturity date of this instrument is considered to be either of the next date on which the security can be redeemed at par, or the next date on which the rate of interest is adjusted. Rate shown is rate as of November 30, 2005.  
9   Cost for Federal tax purposes is $518,134,758. The net unrealized appreciation on a tax basis is $27,069,128, consisting of $30,048,540 gross unrealized appreciation and $2,979,412 gross unrealized depreciation.  
 

KEY TO ABBREVIATIONS

ACA   — American Capital Access     FSA   — Financial Security Assurance
AMBAC   — American Municipal Bond Assurance Corp.     GO   — General Obligation
ETM   — Escrowed to Maturity     MBIA   — Municipal Bond Insurance Assoc.
FGIC   — Financial Guaranty Insurance Co.     PCR   — Pollution Control Revenue
FRWD   — Floating Rate Weekly Demand     RAA   — Radian Asset Assurance
               

4

Item 2. Controls and Procedures.

(a) The Registrant's principal executive and principal financial officers have evaluated the Registrant's disclosure controls and procedures within 90 days of this filing and have concluded, as of that date, that the Registrant’s disclosure controls and procedures were reasonably designed to ensure that information required to be disclosed by the Registrant in this Form N-Q was recorded, processed, summarized, and reported within the required time periods and that information to be disclosed by the Registrant in this Form N-Q was accumulated and communicated to the Registrant’s management , including its principle executive and principle financial officers, as appropriate to allow timely decisions regarding required disclosure.

(b) There were no changes in the Registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act (17 CFR 270.30a -3(d)) that occurred during the Registrant's last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the Registrant's internal control over financial reporting.

Item 3. Exhibits.

Separate certifications of the Registrant’s principal executive and financial officers pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 are attached as EX-99.CERT.

SIGNATURES

     Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

(Registrant)      BlackRock Municipal Income Trust II     

By:     /s/ Henry Gabbay                                                                                                                   
Name: Henry Gabbay
Title: Treasurer and Principal Financial Officer
Date: January 25, 2006

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated.

By:     /s/ Robert S. Kapito                                                                                                              
Name: Robert S. Kapito
Title: President and Principal Executive Officer
Date: January 25, 2006

By:     /s/ Henry Gabbay                                                                                                                   
Name: Henry Gabbay
Title: Treasurer and Principal Financial Officer
Date: January 25, 2006