Liquid lithium-lead eutectic alloy (17 at−% Li-83 at−% Pb, referred to herein as Li-Pb) is currently being considered as a candidate breeding material for fusion reactors. Some important considerations in the design of a Li-Pb blanket are compatibility with the structure, tritium containment and recovery, and safety. Additional design complexities arise because of the high density of Li-Pb, the relatively high melting temperature (235°C), and the high tritium overpressure associated with this alloy. In this study, the Li-Pb eutectic was considered both as the breeder and as the coolant. Thermal hydraulic and stress analyses were conducted to assess the technical feasibility of using Li-Pb as the breeder and coolant based on DEMO reactor conditions. The results of the thermo-mechanical analyses showed that the elongated cylindrical blanket modules made from either HT-9 or vanadium alloy offer a viable first wall/blanket design concept.