The authors performed the underwater explosion analysis for the liquified oxygen tank - a kind of fuel tank of a mid-size submarine, and tried to verify the structural safety for this structure. First, the authors reviewed the theory and application of underwater explosion analysis, using a Structure-Fluid Interaction technique and its finite element modeling scheme. Next, the authors modeled the explosive and sea water as fluid elements, the LOX tank as structural elements, and the interface between the two regions as the ALE scheme. The effect on shock pressure and impulse of fluid mesh size and shape are also investigated. Upon analysis, it was found that the shock pressure due to explosion propagated into the water region, and hit the structure region. The plastic deformation and the equivalent stress were apparent at the web frame and the shock mount of LOX structure, but these values were acceptable for the design criteria.