To provide an analysis device of a fuel cell in which an analysis result closer to an actual situation can be obtained.

The analysis device carries out a preliminary analysis which firstly analyzes reaction characteristics of a fuel cell by regarding all the moisture content existing in the fuel cell as steam having a volume (S10-S18). After completion of the preliminary analysis, then, a final analysis is carried out which analyzes reaction characteristics of the fuel cell by regarding all the moisture content as steam and assuming the volume of steam existing in excess of the saturated steam amount (super-saturated steam) out of the steam as zero (S20-S26). By assuming the volume of the super-saturated steam as zero, the constituent concentration of the reaction gas can be brought closer to the reality, and the analysis result which is closer to the actual situation can be obtained.