As a basic study on the fluid-structure interaction of the shell structure, a theoretical formulation has been suggested on the free vibration of a thin-walled conical frustum shell filled with an ideal fluid, where the shell is assumed to be fixed at both ends. The motion of fluid coupled with the shell is determined by means of the velocity potential flow theory. In order to calculate the normalized natural frequencies that represent the fluid effect on a fluid-coupled system, finite element analyses for a fluid-filled conical frustum shell are carried out. Also, the effect of apex angle on the frequencies is investigated.