Considering rapid development of electronic commerce in Korea, it is an important issue to analyze consumers' e-loyalty. Most internet shopping malls have difficulty in retaining their customers due to the severe competition within internet shopping industry. Thus, it can be a effective marketing strategy to make their customers be more loyal. This study investigates the concept of e-loyalty and its determinants, and tries to establish e-loyalty analyzing model. We conceptualize that e-loyalty can be developed as four stages- cognitive, affective, conative and action loyalty-based on Oliver's theory. To make more effective research model for explaining e-loyalty, our study tries to analyze the influence of key mediating variables and antecedents on e-loyalty. A set of hypotheses is derived and tested based on data collected from consumers who have the purchasing experiences on the internet shopping malls. Path analysis with LISREL program was used for testing the hypotheses. Major findings are as follows:First, shopping satisfaction has significant influence on cognitive, affective, conative loyalty, and merchandise value, service quality and interactivity have positive influence on shopping satisfaction. Especially, we find that the direct effect of shopping satisfaction on cognitive, affective, and conative loyalty are greater than the indirect effect among the each loyalty factors. This finding implies that the shopping satisfaction has a great contribution on the development of e-loyalty and the development of various consumer satisfaction strategies are necessary for internet shopping malls. Furthermore, we find that service quality has greater