  We report on the X-ray properties of the radio galaxy NGC 4261, combining
information from the XMM, Chandra, and SAX satellites. Goals of this study are
to investigate the origin of the X-rays from this low-power radio galaxy and
the nature of the accretion process onto the central black hole. The X-ray
spectrum of the nuclear source extending up to 100--150 keV is well described
by a partially covered (covering factor $>$ 0.8) power law with a photon index
\~1.5 absorbed by a column density 5e22 cm^-2. The X-ray luminosity associated
with the non-thermal component is ~5e41 erg/s. The nuclear source is embedded
in a diffuse hot gas (kT~0.6 keV), whose density profile implies a Bondi
accretion rate of 4.5e-2 solar masses/year. For the first time rapid X-ray
variability is detected in a low-power radio galaxy at more than 99% confidence
level. The observed X-ray spectral and variability properties indicate the
accretion flow as the most likely origin of the bulk X-ray continuum.This
conclusion is strengthened by energetic considerations based on a comparison
between the X-ray luminosity and the kinetic power of the jet, whichalso
suggest that the Bondi accretion rate overestimates the actual accretion rate
onto the black hole.
