The purpose of this study was to verify the formation of satisfaction and dissatisfaction of water leisure tourism participants in Busan area using qualitative study method approach. Research participants were selected 6 water leisure tourism participants by reputational sampling method. Six participants who usually participated in water leisure tourism were selected as research participants. The data for this study included participants' observation and in-depth interview. This study categorized the coding paradigm which was presented by using the findings derived from water leisure tourism background. The results based on in-depth interview were as follows. First, water leisure tourism participants recognized environmental satisfaction of environmentally safe pleasure. Second, water leisure tourism participants recognized social satisfaction of change for leisure recognition. Third, water leisure tourism participants recognized facilities and program satisfaction of clearness and systematic programs. Fourth, water leisure tourism participants recognized instructor satisfaction of kindness and professional. Fifth, water leisure tourism participants recognized safety dissatisfaction of safety ignorance. Sixth, water leisure tourism participants recognized amenities dissatisfaction of lacking convenience. Seventh, water leisure tourism participants recognized accessibility dissatisfaction of public transportations.