Spent Fuel Pool Island (SFPI) is a spent nuclear fuel storage pool that operates independently of existing nuclear facilities to safely manage SNF and minimize maintenance costs during the nuclear decommissioning process. Since the radiation controlled area can be dismantled before transporting SNF to a dry storage facility, the overall decommissioning period can be shortened, and the risk of occupational exposure during dismantling is reduced. In the US, various nuclear power plants have introduced SFPI for this reason. In this paper, to analyze the economic feasibility of application of SFPI to nuclear power plants to be decommissioned, several scenarios are established in consideration of the decommissioning plan and schedule, SFPI and dry storage facility application schedule. Cost and benefit list (SFPI application cost, SNF management cost, SNF dry storage cask cost, etc.) for each alternative were derived, and economic analysis was conducted by applying the Net Present Value (NPV). As a result of the analysis, it is found that the application of SFPI during decommissioning is economically effective as the NPV showed a positive number even when uncertainty was taken into account.