In view of the atrocious storage environment of missile propulsion system, especially the higher requirement for structural reliability, the propulsion system life prediction principle was proposed based on the correct Arrhenius and GM-BP methods. The engine life estimation and the propulsion system store life prediction model were founded. Finally, the life prediction software system was developed, and a simulation example was given, showing the effectiveness of prediction model. According to results, engineers can find the potential trouble model and make right maintenance plan to raise the storage reliability and extend its storage life and so on.