Abstract
We analyze the one-loop effective action of N=4 SYM theory in the framework of the bakground field formalism in N=2 harmonic superspace. For the case of onshell background N=2 vector multiplet we prove that the effective action is free of harmonic singularities. When the lowest N=1 superspace component of the N=2 vector multiplet is switched off, the effective action of N=4 SYM theory is shown to coincide with obtained by Grisaru et al. on the base of the N=1 background field method. We compute the leading non-holomorphic corrections to the N=4 SU (2) SYM effective action.
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