This paper describes the hull design, structural analysis and dynamic performance analysis of an Underwater Robotic Vehicle (URV). The dynamic performance analysis was made with the help of computer simulations. The main purpose of this URV is to carry out fundamental tests on its station keeping ability, attitude control, and position tracking accuracy. Its configuration is similar in appearance to a general open frame ROV for underwater works. The octagonal frame was designed to sustain obstacle collision and the material, stainless steel 316L, was chosen to maximize the resistance to corrosion in seawater. The navigation of the vehicle is controlled by an on-board computer and underwater sensors. This gives us an ideal platform to develop various algorithms needed for the further development of URV technology.