Korean army currently considers the development of the new generation MLRS(Multiple Launcher Rocket System) as a new alternative, which responses on the renovation of the artillery and future battlefield environment. This study suggests that it presents cost-effectiveness of MLRS based on the Analytic Hierarchy Process and Parametric Estimating(PRICE H). According to this study, the cost-effectiveness of new generation MLRS presented that alternative A is 2.30 times and alternative B is 1.70 times, which are better than currently operating M270A1. Therefore, The best acquisition is alternative A that launcher is carried on currently operating 10ton standard truck but final acquisition alternative should be politically decided to consider viability of operator, performance and the latest of equipment.