Objectives : The purpose of this study was to assess the health-related quality of life (HRQoL) for patients with panic disorder using EQ-5D and EQ-VAS, and to examine the relationship between health-related quality of life and clinical outcomes following treatment. Methods : 29 patients with panic disorder were recruited from the Seoul Metropolitan area and 20 patients were followed up after two months of outpatient treatment. The Panic Disorder Severity Scale (PDSS) was used to assess the severity of the panic disorder and the changes in symptoms. HRQoL was assessed with EQ-5D and EQ-VAS at baseline and at two months of treatment. Results : All enrolled panic disorder patients showed significantly impairment of HRQoL in view of the subscales of EQ-5D, EQ-VAS index scores. The severity of PDSS was correlated the HRQoL in the panic patients. After treatment, the EQ-5D, EQ-VAS index scores showed significant improvement. Conclusion : Panic disorder patients suffer from lower HRQoL as well as from symptoms of the disorder. They showed clinical improvement and a restored HRQoL with treatment. These outcomes suggest using the EQ-5D, EQ-VAS such as the HRQoL in the assessment of patients with panic disorder is essential.