Nuclear and hydrogen are considered to be the most promising alternatives energy sources in terms of meeting future demand and providing a CO-free environment, and interest in the development of more cost-effective hydrogen production plants is increasing-and nuclear-powered hydrogen generation plants may be a viable alternative. This paper is a report on investigating the application of new generation nuclear power plants to hydrogen production and development of an associated techno-economic model. In this paper, theoretical and computational assessments of generations II, III+, and IV nuclear power plants for hydrogen generation scenarios have been reported. Technical analyses were conducted on each reactor type-in terms of the design standard, fuel specification, overnight capital cost, and hydrogen generation. In addition, a theoretical model was developed for calculating various hydrogen generation parameters, and it was then extended to include an economic assessment of nuclear power plant-based hydrogen generation. The Hydrogen Economic Evaluation Program originally developed by the International Atomic Energy Agency was used for calculating various parameters, including hydrogen production and storage costs, as well as equity, operation and maintenance (O&M), and capital costs. The results from each nuclear reactor type were compared against reactor parameters, and the ideal candidate reactor was identified. The simulation results also verified theoretically proven results. The main objective of the research was to conduct a prequalification assessment for a cogeneration plant, by developing a model that could be used for technical and economic analysis of nuclear hydrogen plant options. It was assessed that high-temperature gas-cooled reactors (HTGR-PM and PBR200) represented the most economical and viable plant options for hydrogen production. This research has helped identify the way forward for the development of a commercially viable, nuclear power-driven, hydrogen generation plant.