This publication describes the various elements to be included in a comprehensive, robust and logically structured feasibility study report for a new research reactor project. It provides guidance for the main supporting organization or team of a new research reactor to enable them to undertake an authoritative and comprehensive feasibility study that could be submitted to decision makers for their review in order to support proposals and endorse an action plan for construction of such a facility. It includes considerations of justification for a new research reactor, associated key nuclear infrastructure issues, cost-benefit analysis and risk management that would have to be addressed prior to authorizations for the establishment of a new research reactor. Addressing these issues will help Member States to develop a comprehensive understanding of all the roles, obligations and commitments involved in establishing and operating a research reactor and ensure that these are met during all phases of the project life cycle. The publication also includes a generic template for preparing a feasibility study report and provides some examples and lessons learned from individual Member States in preparing such studies.