As a rocket propellent of hydrocarbon fuels, the characteristics of liquefied natural gas was evaluated with the viewpoint of the constituents and content, the cooling performance as a coolant, and characteristic velocity and specific impulse as parameters of the engine performance. Content of methane was a principal factor to determine the characteristics as a rocket propellant and more than 90% of it was needed as a fuel and coolant in the regenerative cooled liquid rocket engine. Some constituents of the liquefied natural gas can be frozen by the pre-cooling of the pipe lines, therefore they can be a factor disturbing the normal working of engine. In case the content of methane is around 90% in the liquefied natural gas, a normalized stoichiometric O/F mixture ratio of 0.75 is suggested for a nominal operation condition to get the maximum specific impulse and characteristic velocity.