The objective of the present study was to evaluate, from an economic perspective, dabigatran etexilate in comparison to existing pharmaceutical therapeutic options available for the protection of moderate-to-high risk patients with non-valvular atrial fibrillation from cardioembolic risk. An existing Markov model was adapted to the Greek setting to reflect the natural course of the disease and the management of patients with different therapies. The model predicts health and economic outcomes and the implications for the social security system during the course of a patient’s lifetime. The data for the population of the model were derived from the international literature and local economic databases. The incremental cost per quality-adjusted life year (QALY) of dabigatran 150 mg twice daily relative to the other therapies varied from€ 5547 to€ 11,762 and that of dabigatran 110 mg twice daily from€ 7398 to€ 16,437. The incremental cost per QALY of dabigatran 150 mg relative to aspirin, the least costly option, was€ 11,762 and relative to warfarin and acenocoumarol, the local standards of care, it was€ 11,400 and€ 11,224 respectively, well below the local thresholds of acceptance. Dabigatran etexilate may represent a cost-effective option for the prevention of thromboembolic events in AF patients at moderate-to-high risk of stroke or systemic embolism.