The e-Learning contents producing industry has been situated at the difficult status because of excessive competition and small-scale business company in unprofitable contents development market. One of the most important issues is low cost for e-Learning contents development. This paper is focus on analysis of e-Learning contents development cost and suggest the rational alternatives for policy making. In order to make successful study, this paper tell about various contents development cost, comparison analysis among them, and e-Learning contents development cost model. As a result of the study, this paper suggest the rational alternatives of of policy making for e-Learning contents development cost.