Provided are a method, system, and program for processing multicast packets. A multicast packet is received to transmit to destination addresses. A payload of the multicast packet is written to at least one packet entry in a packet memory. Headers are generated for the destination addresses and at least one descriptor is generated addressing the at least one packet entry in the packet memory including the payload to transmit to the destination addresses. For each destination address, at least one indicator is generated including information on the generated header for the destination address and the at least one descriptor, wherein indicators for the destination addresses address the at least one descriptor.