R&D portfolio is a strategy tool to make investment on the basis of business strategy by enhancing the alignment of business strategy and R&D strategy. The R&D portfolio has three main purpose: strategy alignment, value maximization, and balance. Therefore, to maximize the R&D performance in the research institute of L Company in Korea, this study tries to apply AHP technique to suggest a portfolio analysis plan that makes up for the R&D portfolio improvement plan being performed. Key Words: R&D Portfolio, R&D Strategy, Business Strategy, AHP, Portfolio Analysis.