Numerical models of composite floor systems with various thickness of phase change material and sizes of circular spacers were developed based on finite element analysis. In order to perform a heat transfer analysis, thermal properties of steels were determined and those of phase change material were estimated from experiment results. In addition, the thermal insulation performance of composite floor systems with respect to different thickness of phase change material and sizes of circular spacers was predicted. To verify the validity of analysis, analysis results were compared with vertical furnace fire test results of equivalent conditions. As a result, available thicknesses of phase change material and sizes of circular spacers were proposed to satisfy the thermal insulation criteria of Korean Standards.