As filed with the Securities and Exchange Commission on June 29, 2006

                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                    FORM S-8

                          REGISTRATION STATEMENT UNDER
                           THE SECURITIES ACT OF 1933

                        STEWARDSHIP FINANCIAL CORPORATION
                        ---------------------------------
             (Exact Name of Registrant as Specified in its Charter)

                                   NEW JERSEY
         (State or Other Jurisdiction of Incorporation or Organization)

                                   22-3351447
                                   ----------
                      (I.R.S. Employer Identification No.)

630 GODWIN AVENUE, MIDLAND PARK, NEW JERSEY                      07432
-------------------------------------------                      -----
(Address of Principal Executive Offices)                      (Zip Code)

                        STEWARDSHIP FINANCIAL CORPORATION
                2006 STOCK OPTION PLAN FOR NON-EMPLOYEE DIRECTORS
                -------------------------------------------------
                            (Full Title of the Plan)

                              PAUL VAN OSTENBRIDGE
                      PRESIDENT AND CHIEF EXECUTIVE OFFICER
                                630 GODWIN AVENUE
                             MIDLAND PARK, NJ 07432
                                 (201) 444-7100
                                 --------------
  (Name, address, telephone number, including area code, of agent for service)

<TABLE>
<CAPTION>
                                    CALCULATION OF REGISTRATION FEE

                                             Proposed Maximum     Proposed Maximum
 Title of Securities to    Amount to be     Offering Price per   Aggregate Offering        Amount of
     be Registered          Registered          Share (2)               Price (2)      Registration Fee
-----------------------------------------------------------------------------------------------------------
<S>                          <C>                 <C>                <C>                   <C>
Common Stock no par          60,000 (1)           $13.75               $825,000              $88
value
-----------------------------------------------------------------------------------------------------------
</TABLE>

(1) This  Registration  Statement also relates to such  indeterminate  number of
additional  shares of Common  Stock of the  Registrant  as may be  issuable as a
result of stock splits, stock dividends or similar transactions, as described in
the Plan.

<PAGE>

(2)  Estimated  solely  for the  purpose of  calculating  the  registration  fee
pursuant to Rule 457(c) and (h) of the Securities  Act of 1933, as amended,  and
based upon the average high and low prices of the  Registrant's  Common Stock on
June 23, 2006.

                                     PART II

               INFORMATION REQUIRED IN THE REGISTRATION STATEMENT

ITEM 3.  INCORPORATION OF DOCUMENTS BY REFERENCE

         The following  documents are hereby  incorporated  by reference in this
Registration Statement:

         (a)    the Registrant's  Annual Report on Form 10-K for the fiscal year
                ended December 31, 2005; and

         (b)    the  Registrant's  Quarterly  Report on Form 10-Q for the fiscal
                quarter ended March 31, 2006; and

         (c)    the  "Description of  Registrant's  Securities to be Registered"
                contained  in the  Registrant's  Registration  Statement on Form
                8-B, as filed with the  Securities  and Exchange  Commission  on
                December 10, 1996.

         In  addition,  all  documents  subsequently  filed  by  the  Registrant
pursuant to Sections 13(a),  13(c), 14 and 15(d) of the Securities  Exchange Act
of 1934, prior to the filing of a post-effective  amendment which indicates that
all securities offered hereby have been sold or which deregisters all securities
then remaining  unsold,  shall be deemed to be incorporated by reference in this
Registration Statement and to be part hereof from the respective dates of filing
of such documents.

         Any  statement  contained  in a document  incorporated  or deemed to be
incorporated  by reference  herein shall be deemed to be modified or  superseded
for  purposes  of this  Registration  Statement  to the extent  that a statement
contained  herein or in any other  subsequently  filed  document  which  also is
incorporated  or is deemed to be  incorporated  by reference  herein modified or
superseded  such statement.  Any such statement so modified or superseded  shall
not be deemed, except as so modified or superseded, to constitute a part of this
Registration Statement.

ITEM 4.  DESCRIPTION OF SECURITIES.

         Not applicable.

ITEM 5.  INTERESTS OF NAMED EXPERTS AND COUNSEL.

         Not applicable.

<PAGE>

ITEM 6.  INDEMNIFICATION OF DIRECTORS AND OFFICERS.

         Article VII of the Registrant's  Certificate of Incorporation  requires
the  Registrant to indemnify its officers,  directors,  employees and agents and
former officers, directors,  employees and agents, and any other persons serving
at the request of the Registrant as an officer,  director,  employee or agent of
another corporation,  association,  partnership,  joint venture, trust, or other
enterprise,  against expenses (including attorneys' fees,  judgments,  fines and
amounts  paid  in  settlement)  incurred  in  connection  with  any  pending  or
threatened action, suit, or proceeding, whether civil, criminal,  administrative
or investigative,  with respect to which such officer, director, employee, agent
or other person is a party,  or is  threatened  to be made a party,  to the full
extent permitted by the New Jersey Business Corporation Act.

         The Registrant's  Certificate of  Incorporation  also provides that the
Registrant  may  purchase  and  maintain  insurance  on behalf of any  person or
persons enumerated in Article VII thereof against any liability asserted against
or incurred by such person or persons  arising out of their  status as corporate
directors,  officers,  employees,  or agents whether or not the Registrant would
have the power to indemnify them against such liability  under the provisions of
this article.

         With  respect  to  possible  indemnification  of  officers,  directors,
employees  and  agents  of the  Registrant  for  liabilities  arising  under the
Securities  Act, the  Registrant  has been  informed  that in the opinion of the
Securities and Exchange Commission such indemnification is against public policy
as expressed in the Securities Act and is, therefore, unenforceable.

ITEM 7.  EXEMPTION FROM REGISTRATION CLAIMED.

         Not Applicable.

ITEM 8.  EXHIBITS.

         The following exhibits are filed with this Registration Statement:

             Exhibit Number        Description of Exhibit
             --------------        ----------------------

                   4(a)            Provisions    of    the     Certificate    of
                                   Incorporation of the Registrant,  that define
                                   the  rights of the  security  holders  of the
                                   Registrant   (incorporated  by  reference  to
                                   Exhibit 3(i) to  Registration  Statement  No.
                                   000-21855 on Form 8-B).
                   4(b)            2006  Stock  Option  Plan  for   Non-Employee
                                   Directors   (incorporated   by  reference  to
                                   Exhibit A to  Registrant's  Definitive  Proxy
                                   Statement  (Schedule 14A) for the 2006 Annual
                                   Meeting of Shareholders).
                   5(a)            Opinion  of  McCarter  &  English,  as to the
                                   legality of the

<PAGE>

                                   securities to be issued.

                   23(a)           Consent  of  McCarter & English  (included in
                                   the opinion filed as Exhibit 5(a))
                   23(b)           Consent  of   independent  registered  public
                                   accounting firm

ITEM 9.  UNDERTAKINGS

         (a) The undersigned Registrant hereby undertakes:

         (1) To file, during any period in which offers or sales are being made,
a post-effective amendment to this Registration Statement:

         (i) To include  any  prospectus  required  by Section  10(a)(3)  of the
Securities Act of 1933;

         (ii) To reflect in the prospectus any facts or events arising after the
effective date of the Registration  Statement (or the most recent post-effective
amendment  thereof)  which,  individually  or  in  the  aggregate,  represent  a
fundamental  change in the information set forth in the Registration  Statement.
Notwithstanding the foregoing,  any increase or decrease in volume of securities
offered (if the total dollar value of  securities  offered would not exceed that
which  was  registered)  and any  deviation  from  the  low or  high  end of the
estimated  maximum  offering  range may be reflected  in the form of  prospectus
filed with the  Commission  pursuant to Rule 424 (b) if, in the  aggregate,  the
changes in volume and price  represent  no more than a 20 percent  change in the
maximum  aggregate  offering price set forth in the "Calculation of Registration
Fee" table in the effective Registration Statement;

         (iii) To include any material  information  with respect to the plan of
distribution  not  previously  disclosed  in the  Registration  Statement or any
material change to such information in the Registration Statement;

provided,  however, that paragraphs (a)(1)(i) and (a)(1)(ii) do not apply if the
information  required  to be  included in a  post-effective  amendment  by those
paragraphs is contained in periodic reports filed by the Registrant  pursuant to
Section  13 or Section 15 (d) of the  Securities  Exchange  Act of 1934 that are
incorporated by reference in this Registration Statement.

         (2) That,  for the  purpose  of  determining  any  liability  under the
Securities Act of 1933, each such post-effective amendment shall be deemed to be
a new registration statement relating to the securities offered therein, and the
offering of such  securities at that time shall be deemed to be the initial bona
fide offering thereof.

         (3) To remove from registration by means of a post-effective  amendment
any of the securities being registered which remain unsold at the termination of
the offering.

<PAGE>

         (b) The undersigned  Registrant hereby undertakes that, for purposes of
determining  any liability  under the Securities Act of 1933, each filing of the
Registrant's  annual  report  pursuant to Section  13(a) or Section 15(d) of the
Securities  Exchange  Act of 1934  (and,  where  applicable,  each  filing of an
employee  benefit  plan's  annual  report  pursuant  to  Section  15(d)  of  the
Securities  Exchange  Act of 1934)  that is  incorporated  by  reference  in the
Registration  Statement  shall  be  deemed  to be a new  registration  statement
relating to the securities offered therein,  and the offering of such securities
at that time shall be deemed to be the initial bona fide offering thereof.

         (h)  Insofar  as  indemnification  for  liabilities  arising  under the
Securities Act of 1933 may be permitted to directors,  officers and  controlling
persons of the Registrant  pursuant to the foregoing  provisions,  or otherwise,
the  Registrant  has been  advised  that in the  opinion of the  Securities  and
Exchange  Commission such  indemnification is against public policy as expressed
in the Act and is,  therefore,  unenforceable.  In the  event  that a claim  for
indemnification  against  such  liabilities  (other  than  the  payment  by  the
Registrant of expenses  incurred or paid by a director,  officer or  controlling
person of the  Registrant  in the  successful  defense  of any  action,  suit or
proceeding)  is  asserted by such  director,  officer or  controlling  person in
connection with the securities being registered,  the Registrant will, unless in
the opinion of its counsel the matter has been settled by controlling precedent,
submit  to a  court  of  appropriate  jurisdiction  the  question  whether  such
indemnification  by it is against public policy as expressed in the Act and will
be governed by the final adjudication of such issue.



<PAGE>

                                   SIGNATURES

         Pursuant  to the  requirements  of the  Securities  Act  of  1933,  the
Registrant certified that it has reasonable grounds to believe that it meets all
of the requirements for filing on Form S-8 and has duly caused this Registration
Statement  to be  signed  on its  behalf  by  the  undersigned,  thereunto  duly
authorized, in Midland Park, New Jersey, on June 29, 2006.

                                  By:      /s/ Paul Van Ostenbridge
                                           ------------------------
                                           Paul Van Ostenbridge,
                                           President and Chief Executive Officer
                                           (Principal Executive Officer)

         Pursuant  to the  requirements  of the  Securities  Act of  1933,  this
Registration  Statement  has  been  signed  by  the  following  persons  in  the
capacities and on the dates indicated.

<TABLE>
<CAPTION>

Name                               Title                                      Date
----                               -----                                      ----
<S>                                <C>                                        <C>
/s/ PAUL VAN OSTENBRIDGE           President, Chief Executive Officer and     June 29, 2006
------------------------           Director
Paul Van Ostenbridge

/s/ JULIE E. HOLLAND               Principal Financial Officer and            June 29, 2006
--------------------               Principal Accounting Officer
Julie E. Holland

/s/ HAROLD DYER                    Director                                   June 29, 2006
---------------
Harold Dyer

/s/ WILLIAM C. HANSE               Director                                   June 29, 2006
--------------------
William C. Hanse

/s/ ARIE LEEGWATER                 Director and Chairman of the Board         June 29, 2006
------------------
Arie Leegwater

/s/ JOHN L. STEEN                  Director                                   June 29, 2006
-----------------
John L. Steen

/s/ WILLIAM J. VANDER EEMS         Director                                   June 29, 2006
--------------------------
William J. Vander Eems

/s/ HOWARD YEATON                  Director                                   June 29, 2006
-----------------
Howard Yeaton

</TABLE>