The primary objective of this study is to present a modified method of hydroelastic analysis and application of it to the VLFS with submerged plate. The modal analysis method is applied to the VLFS with the submerged plate using the modified hydrodynamic coefficients. Namely, the wave exciting forces are modified by the transmission wave coefficients, while the interaction factor is used for the modification of radiation forces. To validate the proposed method, comparisons between the numerical calculations and experimental data have been carried out for the deflections of VLFS, and it shows good agreement between the calculation and experiment. The results presented in this study demonstrate that the elastic response of the VLFS is strongly affected by the hydrodynamic interaction induced by the submerged plate. As a result, we can confirm that the submerged plate is useful for reducing the hydroelastic deflection of VLFS, and the proposed method is valuable for predicting the elastic response of VLFS with attached the submerged plate.