A computational model is presented in order to assess the cost of tritium breeding in a fusion power reactor. This model compares the differential cost of the Li-bearing breeder blanket with that of a steel shield and adds the “loss of revenue” due to the lower energy multiplication of the breeder blanket compared to the steel shield. The cost of tritium production ranges from $215–$300/g for a simple breeder up to $1420/g for a high temperature breeder.