The M-log-Fraction Transform (MFT) for Rational Arithmetic [submitted to Transaction on Computers] Oskar Mencer, Michael J. Flynn, Martin Morf abstract. Continued fraction(CF) arithmetic enables us to compute rational functions so that input and output values are represented as simple continued fractions. The main problem of previous work is the conversion between simple continued fractions and binary numbers. The M-log-Fraction Transform(MFT), introduced in this work, enables us to instantly convert between binary numbers and M-log-Fractions. Conversion is related to the distance between the '1's of the binary number. Applying M-log-Fractions to continued fraction arithmetic algorithms reduces the complexity of the CF algorithm to shift-and-add structures, and more specifically, digit-serial arithmetic algorithms for rational functions. A multiplication-based scheme can be used to evaluate higher order rational approximations. We show two applications of the MFT: (1) a rational arithmetic unit computing (ax+b)/(cx+d) in a shift-and-add structure. (2) the evaluation of rational approximations (or continued fraction approximations) in a multiplication-based structure. The MFT bridges the gap between continued fractions and the binary number representation, enabling the design of a new class of efficient rational arithmetic units and efficient evaluation of rational approximations.