OBJECTIVES: Evaluate the potential benefits of the 10-valent pneumococcal nontypeable Haemophilus influenzae (NTHi) protein D-conjugated vaccine (PHiD-CV) and the 13-valent conjugated pneumococcal vaccine (PCV-13) for Argentina. METHODS: A cohort Markov model was used. The model simulated the impact of pneumococcal and NTHi related diseases (Invasive Disease (ID), Community Acquired Pneumonia (CAP), and Acute Otitis Media (AOM)) in an argentinean cohort followed over lifetime. Argentine epidemiology, disease management, and costs were included in the model. Base case includes conservative assumptions on the rates of NTHi infections. A 2+1 vaccination schedule was assumed, with vaccine coverage of 90% and 2 prices/dose scenarios a) PAHO Revolving Fund 2011 prices, or b) price parity. Results of the quality adjusted life years gained (QALYs) and future averted costs, using a 3.5% discount rate, using the health payer perspective, are presented.  RESULTS: The model estimated comparable results between vaccines on mortality associated to ID and CAP, for the base case scenario. It predicts that vaccines would reduce 11.34 deaths (PCV-13) and 11.03 deaths (PHiD-CV) per 100,000 vaccinated infants. Besides, PHiD-CV would reduce 221 more myringotomies and 3,891 more AOM cases than PCV-13, per 100,000 vaccinated infants. The direct medical costs averted (undiscounted) due to ID and CAP is similar for both vaccines. Instead, PHiD-CV would save 1.9 times more AOM medical costs than PCV-13. Both vaccines are cost effective, but PHiD-CV would generate more QALY gains (1176 additional QALYs) and in addition, would be cost saving. It was estimated that PHiD-CV requires a reduced annual investment of 10 million (PAHO prices) or 1.6 million (price parity) US$, compared to PCV-13.  CONCLUSIONS: Both vaccines would reduce significantly the impact of invasive pneumococcal disease and CAP, but PHiD-CV will generate more QALYs gain and will be cost saving compared to PCV-13, due to its greater effects over AOM.