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Concrete silo is a dry storage system for spent fuel generated from CANDU reactors. The silo is designed to remove passively the decay heat from spent fuel, as well as to secure the integrity of spent fuel during storage period. Dominant heat transfer mechanisms must be characterized and validated for the thermal analysis model of the silo, and the temperature history along storage period could be determined by using the validated thermal analysis model. Heat transfer characteristics on the interior and exterior of fuel basket in the silo were assessed to determine the temperature history of silo, which is necessary for evaluating the long-term degradation behavior of CANDU spent fuel stored in the silo. Also a methodology to evaluate the temperature history during dry storage period was proposed in this study. A CFD model of fuel basket including fuel bundles was suggested and temperature difference correlation between fuel bundles and silo’s internal member, as a function of decay heat of fuel basket considering natural convection and radiation heat transfer, was deduced. Temperature difference between silo’s internal cavity and ambient air was determined by using a concept of thermal resistance, which was validated by CFD analysis. Fuel temperature was expressed as a function of ambient temperature and decay heat of fuel basket in the correlation, and fuel temperature along storage period was determined. Therefore, it could be used to assess the degradation behavior of spent fuel by applying the degradation mechanism expressed as a function of spent fuel temperature.