A waterjet propulsion system has many advantages compared with a conventional screw propeller especially for amphibious armored wheeled vehicles because of a good maneuverability at low speed, good operation ability at shallow water, high thrust at low speed to aid maneuverability and exit from water, etc. The POD type waterjet is adequate for the present wheeled vehicle because the weight is lighter and L/B is longer than the conventional armored amphibious vehicle. Resistance and self-propulsion tests with a 1/3.5-scale model are conducted at PNU towing tank. Based on these measurements, the performance is analyzed according to ITTC 96 standard analysis method and also according to the conventional propulsive factor analysis method. Based on these two methods, the full-scale effective and delivered powers of amphibious armored wheeled vehicle are estimated. This paper emphasizes the analysis method of model test of the waterjet propulsion system for a amphibious armored wheeled vehicle and the model test technique together with the comparison of the two analysis methods.