Debriefing is an essential component of simulation-based learning and is a constructive teaching strategy for teachers and an effective learning method to consolidate knowledge and skills for students. The purpose of this study was to verify the importance of debriefing in simulation-based learning for students in a nursing program. Participants in this study were 49 second-year nursing students who were enrolled at the Red Cross College of Nursing in Seoul, Korea. Collected data were analyzed using χ2 test, t test, and independent t test statistics. There were significant differences between students in the debriefing group and those in the no-debriefing group evaluated. The level of clinical performance competency, self-reflection, and satisfaction with simulation-based learning for debriefing group students was higher than that for no-debriefing group. Debriefing was an important factor in simulation-based learning to improve technical and nontechnical skills and facilitate self-reflection. These results suggest that debriefing by a trained instructor is essential for maximizing simulation-based learning success. In absence of a trained debriefing instructor, various alternative forms of debriefing should be considered.