The thermal integrity of spent nuclear fuels has to be maintained during their long-term dry storage. The detailed temperature distributions of spent fuel assemblies are essential for evaluating the integrity of their dry storage systems. In this study, a subchannel analysis model was developed for a canister of a single fuel assembly using the COBRA-SFS code. The thermal parameters affecting the peak cladding temperature (PCT) of the spent fuel assembly were identified, and sensitivity analyses were performed based on these parameters. The subchannel analysis results indicated the presence of a recirculation flow, based on natural convection, between the fuel assembly and downcomer region. The sensitivity analysis of the thermal parameters indicated that the PCT was affected by the emissivity of the fuel cladding and basket, convective heat transfer coefficient, and thermal conductivity of the fluid. However, the effects of the wall friction factor of the canister, form loss coefficient of the grid spacers, and thermal conductivities of the solid materials, on the PCT were predominantly ignored.