The purpose of this study was to verify importance and satisfaction of destination attraction for water-based tourism in Jeju Island using Importance-Performance Analysis (IPA). The participants of this study consisted of 429 water-based tourism participants who visited Jeju Island in Korea. The collected data were analyzed and interpreted using SPSS program, frequency analysis, exploratory factor analysis, reliability analysis, and Importance-Performance Analysis. The results of this study were as follows. First, quadrant 1 included in season and climate comfort, local souvenirs, and hospitality of tourism program guide. Second, quadrant 2 included six items with sports activities rental facilities, scenic viewing activity, hospitality of local residents, accessibility of the island, convenience of local island transportation, and tourism safety. Third, quadrant 3 included four items with congestion of sightseeing spot, the reputation of a tourist destination, amusement facilities, affordable price, and traditional foods Fourth, quadrant 4 included eight items with marine related experience training activity, coastal landscape and terrain, marine sports activity, accommodation and shopping facilities, marine festivals and events activity, rest and recreational activity, history and cultural heritage, and service facilities.