In this work, we present results of fuel depletion analyses performed for a potential LEU core of Ghana’s Miniature Neutron Source Reactor (GHARR-1) using the Monte Carlo N-particle extended (MCNPX) neutron transport code. Depletion calculation was carried out for the reactor core from the Beginning of Life (BOL) to the End of Life (EOL) which corresponds to 10years of reactor operation. The amounts of uranium and plutonium actinides were estimated at BOL and EOL of the core. Decay heat removal rate for the MNSR after reactor shutdown was investigated due to its significance to reactor safety. Inventory of fission products produced as a result of burnup was also calculated. The results show that a maximum discharge burnup equivalent to 0.568% of U-235 was consumed at EOL equivalent to operating the reactor for 200 Effective Full Power Days (EFPD), while the amount of Pu-239 produced was not significant. Also, the decay heat decreased exponentially after reactor shutdown confirming that decay heat will be removed in the system by natural circulation after shutdown and thus guaranteeing the safety of the reactor.