This study was conducted to examine the changes of contents of ATP related compounds during drying of large anchovy and storage of dried large anchovy (DLA) according to storage temperature and package method. The total content of ATP related compounds of raw large anchovy was $36.0{mu}mole/g$ and the major ATP related compounds were consisted of IMP and hypoxanthine. The IMP content of DLA was the highest in $20^{circ}C$ cold-air drying, and the breakdown of IMP was progressed rapidly in $60^{circ}C$ air drying, followed by $40^{circ}C$ air drying, sun drying, and $20^{circ}C$ cold-air drying. During storage of DLA, ATP was not detected while ADP and AMP was detected in a very small amount, and the changes of ATP related compounds were coincided with the changes of contents of IMP, inosine and hypoxanthine. The changes of ATP related compounds with different package method did not show distinct differences, while with different storage temperature showed clear difference. The content of IMP was over $8.88{mu}mole/g$ on 60 days at $-20^{circ}C$, while were over $0.83 {mu}mole/g$ and$ 0.202 {mu}mole/g$ on 16 days at$ 5^{circ}C$ and$ 25^{circ}C$, respectively. These results suggest that the breakdown of IMP depends on storage temperature and frozen storage affects good quality of DLA during storage.