Many countries are paying efforts to the research and development of water-breathing ramjet propulsion for submersible vehicle with the super-cavitation which makes traveling at high speed in underwater possible. In this study, a conceptual design of an underwater vehicle with water-breathing ramjet was carried out. Mission profiles and operating conditions are determined by examining the operation environment. Drag is estimated based on the theories of super-cavitation and fluid mechanics. The sizing and performance analysis of the components were performed using thrust required, thrust and specific impulse of designed engine were verified.