Research related to hydrogen technology is being actively conducted around the world. Korea is also making great efforts to develop technology to leap forward as a hydrogen economy powerhouse. In particular, the world’s No. 1 hydrogen vehicle penetration rate is proof of this. However, the construction of hydrogen refueling stations is being delayed. The biggest delay factor is the public opposition. As such, policies without public support cannot be successfully implemented and are not sustainable. Therefore, this study intends to analyze the factors affecting the acceptability of hydrogen refueling stations in favor of and against them. As a research method, the basic factors affecting acceptability were identified by reviewing previous studies, and a questionnaire was designed and investigated based on the established factors. The validity and reliability of the questionnaire were verified, and the hypothesis was verified through correlation analysis. And, using structural equation modeling, a factor model was developed on the acceptability of hydrogen refueling stations. As a result of the study, acceptability defined private acceptability and public acceptability. In the case of private acceptability, it was confirmed that the higher the attitude toward the environment, the higher the level of knowledge about the hydrogen charging station, and the lower the degree of feeling the risk of the hydrogen charging station, the higher the acceptability. In the case of public acceptability, it was confirmed that the higher the benefit, the better the attitude toward the environment, and the lower the risk-taking characteristics of the individual, the higher the acceptability. Therefore, in this study, based on the potential factors verified in previous studies, the main factors affecting the acceptance on hydrogen refueling stations were identified. And the acceptance model was developed using structural equation modeling. This study is expected to provide basic data to seek ways to improve the acceptance of public when implementing national policies such as hydrogen refueling stations, and to be used analysis data for scientific communication.