This study was carried out to estimate price and domestic consumption functions of chestnut using time series data for the period 1970~1989. Using a regression analysis method, price and domestic consumption functions of chestnut in Korea are estimated. The result of this study reveals that the optimum function of price for chestnut is PR= -249.33965 + 163532.56817 EX/POP-4.10177 PD+4.02877 DC+6056.98339 GDP/POP($R^2$=0.88207), and that optimum function of domestic consumption for chestnut is ln DC=14.97145+1.48279 ln PD/POP - 0.32853 ln GDP - 0.02337 ln PR - 0.12117 ln EX($R^2$=0.98689). On the ground that instability of prices make the income of producer and family finances of consumer unstable, the object of price-policy should be to stabilize price of chestnut in Korea.