diff --git a/app/src/main/java/kr/co/vividnext/sodalive/chat/character/comment/CharacterCommentReplyFragment.kt b/app/src/main/java/kr/co/vividnext/sodalive/chat/character/comment/CharacterCommentReplyFragment.kt
index ca280d29..6e086d0e 100644
--- a/app/src/main/java/kr/co/vividnext/sodalive/chat/character/comment/CharacterCommentReplyFragment.kt
+++ b/app/src/main/java/kr/co/vividnext/sodalive/chat/character/comment/CharacterCommentReplyFragment.kt
@@ -13,8 +13,6 @@ import androidx.recyclerview.widget.LinearLayoutManager
 import androidx.recyclerview.widget.RecyclerView
 import coil.load
 import coil.transform.CircleCropTransformation
-import io.reactivex.rxjava3.android.schedulers.AndroidSchedulers
-import io.reactivex.rxjava3.schedulers.Schedulers
 import kr.co.vividnext.sodalive.R
 import kr.co.vividnext.sodalive.base.BaseFragment
 import kr.co.vividnext.sodalive.common.LoadingDialog
@@ -33,17 +31,15 @@ class CharacterCommentReplyFragment : BaseFragment<FragmentCharacterCommentReply
     FragmentCharacterCommentReplyBinding::inflate
 ) {
 
+    private val viewModel: CharacterCommentReplyViewModel by inject()
+
     private lateinit var imm: InputMethodManager
     private lateinit var loadingDialog: LoadingDialog
     private lateinit var adapter: CharacterCommentReplyAdapter
-    private val repository: CharacterCommentRepository by inject()
 
     private var original: CharacterCommentResponse? = null
     private var characterId: Long = 0
 
-    private var cursor: Long? = null
-    private var isLoading: Boolean = false
-
     override fun onCreateView(
         inflater: LayoutInflater,
         container: ViewGroup?,
@@ -76,7 +72,9 @@ class CharacterCommentReplyFragment : BaseFragment<FragmentCharacterCommentReply
         imm = requireContext().getSystemService(Service.INPUT_METHOD_SERVICE) as InputMethodManager
 
         setupView()
-        loadMore() // 초기 로드 (스텁)
+        bindData()
+        viewModel.init(original!!)
+        viewModel.loadReplies(characterId)
     }
 
     private fun setupView() {
@@ -94,49 +92,8 @@ class CharacterCommentReplyFragment : BaseFragment<FragmentCharacterCommentReply
             hideKeyboard()
             val text = binding.etComment.text.toString()
             if (text.isBlank()) return@setOnClickListener
-            val originalId = original?.commentId ?: return@setOnClickListener
-            val token = "Bearer ${SharedPreferenceManager.token}"
-            loadingDialog.show(screenWidth)
-            val d = repository.createReply(
-                characterId = characterId,
-                commentId = originalId,
-                comment = text,
-                token = token
-            )
-                .subscribeOn(Schedulers.io())
-                .observeOn(AndroidSchedulers.mainThread())
-                .doFinally { loadingDialog.dismiss() }
-                .subscribe({ resp ->
-                    if (resp.success) {
-                        // 성공 시 낙관적 UI 반영: 기존 스텁과 동일하게 즉시 목록에 추가
-                        val me = CharacterReplyResponse(
-                            replyId = System.currentTimeMillis(),
-                            memberId = SharedPreferenceManager.userId,
-                            memberProfileImage = SharedPreferenceManager.profileImage,
-                            memberNickname = SharedPreferenceManager.nickname,
-                            createdAt = System.currentTimeMillis(),
-                            comment = text
-                        )
-                        val insertAt = adapter.items.size
-                        adapter.items.add(me)
-                        adapter.notifyItemInserted(insertAt)
-                        binding.rvCommentReply.scrollToPosition(adapter.items.size - 1)
-                        binding.etComment.setText("")
-                    } else {
-                        Toast.makeText(
-                            requireContext(),
-                            resp.message ?: "요청 중 오류가 발생했습니다",
-                            Toast.LENGTH_SHORT
-                        ).show()
-                    }
-                }, { e ->
-                    Toast.makeText(
-                        requireContext(),
-                        e.message ?: "요청 중 오류가 발생했습니다",
-                        Toast.LENGTH_SHORT
-                    ).show()
-                })
-            compositeDisposable.add(d)
+            viewModel.createReply(characterId, text)
+            binding.etComment.setText("")
         }
 
         adapter = CharacterCommentReplyAdapter(
@@ -146,36 +103,7 @@ class CharacterCommentReplyFragment : BaseFragment<FragmentCharacterCommentReply
                     onReport = {
                         val reportSheet = CharacterCommentReportBottomSheet.newInstance()
                         reportSheet.onSubmit = { reason ->
-                            val token = "Bearer ${SharedPreferenceManager.token}"
-                            val d = repository.reportComment(
-                                characterId = characterId,
-                                commentId = reply.replyId,
-                                reason = reason,
-                                token = token
-                            ).subscribeOn(Schedulers.io())
-                                .observeOn(AndroidSchedulers.mainThread())
-                                .subscribe({ resp ->
-                                    if (resp.success) {
-                                        Toast.makeText(
-                                            requireContext(),
-                                            "신고가 접수되었습니다.",
-                                            Toast.LENGTH_SHORT
-                                        ).show()
-                                    } else {
-                                        Toast.makeText(
-                                            requireContext(),
-                                            resp.message ?: "요청 중 오류가 발생했습니다",
-                                            Toast.LENGTH_SHORT
-                                        ).show()
-                                    }
-                                }, { e ->
-                                    Toast.makeText(
-                                        requireContext(),
-                                        e.message ?: "요청 중 오류가 발생했습니다",
-                                        Toast.LENGTH_SHORT
-                                    ).show()
-                                })
-                            compositeDisposable.add(d)
+                            viewModel.reportReply(characterId, reply.replyId, reason)
                         }
                         reportSheet.show(parentFragmentManager, "reply_report")
                     }
@@ -184,41 +112,7 @@ class CharacterCommentReplyFragment : BaseFragment<FragmentCharacterCommentReply
                             .setTitle(getString(R.string.confirm_delete_title))
                             .setMessage(getString(R.string.confirm_delete_message))
                             .setPositiveButton(getString(R.string.confirm)) { _, _ ->
-                                val token = "Bearer ${SharedPreferenceManager.token}"
-                                loadingDialog.show(screenWidth)
-                                val d = repository.deleteComment(
-                                    characterId = characterId,
-                                    commentId = reply.replyId,
-                                    token = token
-                                ).subscribeOn(Schedulers.io())
-                                    .observeOn(AndroidSchedulers.mainThread())
-                                    .doFinally { loadingDialog.dismiss() }
-                                    .subscribe({ resp ->
-                                        if (resp.success) {
-                                            val index = adapter.items
-                                                .indexOfFirst {
-                                                    it is CharacterReplyResponse
-                                                        && it.replyId == reply.replyId
-                                                }
-                                            if (index > 0) {
-                                                adapter.items.removeAt(index)
-                                                adapter.notifyItemRemoved(index)
-                                            }
-                                        } else {
-                                            Toast.makeText(
-                                                requireActivity(),
-                                                resp.message ?: "요청 중 오류가 발생했습니다",
-                                                Toast.LENGTH_SHORT
-                                            ).show()
-                                        }
-                                    }, { e ->
-                                        Toast.makeText(
-                                            requireActivity(),
-                                            e.message ?: "요청 중 오류가 발생했습니다",
-                                            Toast.LENGTH_SHORT
-                                        ).show()
-                                    })
-                                compositeDisposable.add(d)
+                                viewModel.deleteReply(characterId, reply.replyId)
                             }
                             .setNegativeButton(getString(R.string.cancel), null)
                             .show()
@@ -265,10 +159,8 @@ class CharacterCommentReplyFragment : BaseFragment<FragmentCharacterCommentReply
                 val lm = recyclerView.layoutManager as LinearLayoutManager
                 val last = lm.findLastCompletelyVisibleItemPosition()
                 val total = (recyclerView.adapter?.itemCount ?: 1) - 1
-                val onlyHeader = adapter.items.size <= 1
-                val canLoadMore = onlyHeader || cursor != null
-                if (canLoadMore && !recyclerView.canScrollVertically(1) && last == total) {
-                    loadMore()
+                if (!recyclerView.canScrollVertically(1) && last == total) {
+                    viewModel.loadReplies(characterId)
                 }
             }
         })
@@ -279,53 +171,28 @@ class CharacterCommentReplyFragment : BaseFragment<FragmentCharacterCommentReply
         imm.hideSoftInputFromWindow(view?.windowToken, 0)
     }
 
-    private fun loadMore() {
-        val originalId = original?.commentId ?: return
-        if (isLoading) return
-        // 초기 로드(헤더만 있는 상태)는 허용. 그 외에는 cursor가 null이면 더 이상 조회하지 않음
-        val onlyHeader = adapter.items.size <= 1
-        if (!onlyHeader && cursor == null) return
-
-        val token = "Bearer ${SharedPreferenceManager.token}"
-        isLoading = true
-        val d = repository.listReplies(
-            characterId = characterId,
-            commentId = originalId,
-            limit = 20,
-            cursor = cursor,
-            token = token
-        )
-            .subscribeOn(Schedulers.io())
-            .observeOn(AndroidSchedulers.mainThread())
-            .doFinally { isLoading = false }
-            .subscribe({ resp ->
-                if (resp.success) {
-                    val data = resp.data
-                    // 서버에서 original 포함되지만, 이미 헤더에 추가되어 있으므로 replies만 사용
-                    val replies = data?.replies ?: emptyList()
-                    if (replies.isNotEmpty()) {
-                        val start = adapter.items.size
-                        adapter.items.addAll(replies)
-                        adapter.notifyItemRangeInserted(start, replies.size)
-                    }
-                    cursor = data?.cursor
-                } else {
-                    Toast.makeText(
-                        requireContext(),
-                        resp.message ?: "요청 중 오류가 발생했습니다",
-                        Toast.LENGTH_SHORT
-                    ).show()
-                }
-            }, { e ->
-                Toast.makeText(
-                    requireContext(),
-                    e.message ?: "요청 중 오류가 발생했습니다",
-                    Toast.LENGTH_SHORT
-                ).show()
-            })
-        compositeDisposable.add(d)
+    private fun bindData() {
+        viewModel.isLoading.observe(viewLifecycleOwner) { loading ->
+            if (loading) loadingDialog.show(screenWidth) else loadingDialog.dismiss()
+        }
+        viewModel.toastLiveData.observe(viewLifecycleOwner) { msg ->
+            msg?.let { showToast(it) }
+        }
+        viewModel.replies.observe(viewLifecycleOwner) { list ->
+            // 헤더(원본 댓글)는 index 0에 유지, 나머지를 교체
+            val header = if (adapter.items.isNotEmpty()) adapter.items.first() else original
+            adapter.items.clear()
+            header?.let { adapter.items.add(it) }
+            adapter.items.addAll(list)
+            adapter.notifyDataSetChanged()
+            // 스크롤을 하단으로 이동 (신규 추가 시 사용자에게 피드백)
+            if (adapter.itemCount > 0) {
+                binding.rvCommentReply.scrollToPosition(adapter.itemCount - 1)
+            }
+        }
     }
 
+
     companion object {
         private const val EXTRA_CHARACTER_ID = "extra_character_id"
         private const val EXTRA_ORIGINAL_COMMENT_ID = "extra_original_comment_id"
diff --git a/app/src/main/java/kr/co/vividnext/sodalive/chat/character/comment/CharacterCommentReplyViewModel.kt b/app/src/main/java/kr/co/vividnext/sodalive/chat/character/comment/CharacterCommentReplyViewModel.kt
new file mode 100644
index 00000000..782db391
--- /dev/null
+++ b/app/src/main/java/kr/co/vividnext/sodalive/chat/character/comment/CharacterCommentReplyViewModel.kt
@@ -0,0 +1,185 @@
+package kr.co.vividnext.sodalive.chat.character.comment
+
+import androidx.lifecycle.LiveData
+import androidx.lifecycle.MutableLiveData
+import com.orhanobut.logger.Logger
+import io.reactivex.rxjava3.android.schedulers.AndroidSchedulers
+import io.reactivex.rxjava3.schedulers.Schedulers
+import kr.co.vividnext.sodalive.base.BaseViewModel
+import kr.co.vividnext.sodalive.common.SharedPreferenceManager
+
+class CharacterCommentReplyViewModel(
+    private val repository: CharacterCommentRepository
+) : BaseViewModel() {
+
+    private val _toastLiveData = MutableLiveData<String?>()
+    val toastLiveData: LiveData<String?> get() = _toastLiveData
+
+    private val _isLoading = MutableLiveData(false)
+    val isLoading: LiveData<Boolean> get() = _isLoading
+
+    private val _original = MutableLiveData<CharacterCommentResponse?>()
+    val original: LiveData<CharacterCommentResponse?> get() = _original
+
+    private val _replies = MutableLiveData<List<CharacterReplyResponse>>(emptyList())
+    val replies: LiveData<List<CharacterReplyResponse>> get() = _replies
+
+    private var cursor: Long? = null
+    private var page: Int = 1
+
+    fun init(original: CharacterCommentResponse) {
+        _original.value = original
+        reset()
+    }
+
+    private fun reset() {
+        cursor = null
+        page = 1
+        _replies.value = emptyList()
+    }
+
+    fun loadReplies(characterId: Long) {
+        val originalId = _original.value?.commentId ?: return
+        if (_isLoading.value == true) return
+        val onlyHeader = (_replies.value?.isEmpty() ?: true)
+        if (!onlyHeader && cursor == null) return
+
+        _isLoading.value = true
+        val token = "Bearer ${SharedPreferenceManager.token}"
+        compositeDisposable.add(
+            repository.listReplies(
+                characterId = characterId,
+                commentId = originalId,
+                limit = 20,
+                cursor = cursor,
+                token = token
+            )
+                .subscribeOn(Schedulers.io())
+                .observeOn(AndroidSchedulers.mainThread())
+                .subscribe({ resp ->
+                    _isLoading.value = false
+                    if (resp.success && resp.data != null) {
+                        val newReplies = resp.data.replies
+                        val current = _replies.value ?: emptyList()
+                        _replies.postValue(current + newReplies)
+                        cursor = resp.data.cursor
+                        page += 1
+                    } else {
+                        val message = resp.message ?: "알 수 없는 오류가 발생했습니다. 다시 시도해 주세요."
+                        _toastLiveData.postValue(message)
+                    }
+                }, { e ->
+                    _isLoading.value = false
+                    Logger.e(e, "Character replies load failed")
+                    _toastLiveData.postValue("알 수 없는 오류가 발생했습니다. 다시 시도해 주세요.")
+                })
+        )
+    }
+
+    fun createReply(characterId: Long, comment: String) {
+        if (comment.isBlank()) {
+            _toastLiveData.postValue("내용을 입력하세요")
+            return
+        }
+        val originalId = _original.value?.commentId ?: return
+        if (_isLoading.value == true) return
+        _isLoading.value = true
+
+        val token = "Bearer ${SharedPreferenceManager.token}"
+        compositeDisposable.add(
+            repository.createReply(
+                characterId = characterId,
+                commentId = originalId,
+                comment = comment,
+                token = token
+            )
+                .subscribeOn(Schedulers.io())
+                .observeOn(AndroidSchedulers.mainThread())
+                .subscribe({ resp ->
+                    _isLoading.value = false
+                    if (resp.success) {
+                        // 낙관적 추가
+                        val me = CharacterReplyResponse(
+                            replyId = System.currentTimeMillis(),
+                            memberId = SharedPreferenceManager.userId,
+                            memberProfileImage = SharedPreferenceManager.profileImage,
+                            memberNickname = SharedPreferenceManager.nickname,
+                            createdAt = System.currentTimeMillis(),
+                            comment = comment
+                        )
+                        val current = _replies.value ?: emptyList()
+                        _replies.postValue(current + listOf(me))
+                    } else {
+                        val message = resp.message ?: "알 수 없는 오류가 발생했습니다. 다시 시도해 주세요."
+                        _toastLiveData.postValue(message)
+                    }
+                }, { e ->
+                    _isLoading.value = false
+                    Logger.e(e, "Character reply create failed")
+                    _toastLiveData.postValue("알 수 없는 오류가 발생했습니다. 다시 시도해 주세요.")
+                })
+        )
+    }
+
+    fun deleteReply(characterId: Long, replyId: Long) {
+        if (_isLoading.value == true) return
+        _isLoading.value = true
+        val token = "Bearer ${SharedPreferenceManager.token}"
+        compositeDisposable.add(
+            repository.deleteComment(
+                characterId = characterId,
+                commentId = replyId,
+                token = token
+            )
+                .subscribeOn(Schedulers.io())
+                .observeOn(AndroidSchedulers.mainThread())
+                .subscribe({ resp ->
+                    _isLoading.value = false
+                    if (resp.success) {
+                        val current = _replies.value ?: emptyList()
+                        _replies.postValue(current.filterNot { it.replyId == replyId })
+                    } else {
+                        val message = resp.message ?: "알 수 없는 오류가 발생했습니다. 다시 시도해 주세요."
+                        _toastLiveData.postValue(message)
+                    }
+                }, { e ->
+                    _isLoading.value = false
+                    Logger.e(e, "Character reply delete failed")
+                    _toastLiveData.postValue("알 수 없는 오류가 발생했습니다. 다시 시도해 주세요.")
+                })
+        )
+    }
+
+    fun reportReply(characterId: Long, replyId: Long, reason: String) {
+        if (reason.isBlank()) {
+            _toastLiveData.postValue("신고 사유를 입력하세요")
+            return
+        }
+        if (_isLoading.value == true) return
+        _isLoading.value = true
+        val token = "Bearer ${SharedPreferenceManager.token}"
+        compositeDisposable.add(
+            repository.reportComment(
+                characterId = characterId,
+                commentId = replyId,
+                reason = reason,
+                token = token
+            )
+                .subscribeOn(Schedulers.io())
+                .observeOn(AndroidSchedulers.mainThread())
+                .subscribe({ resp ->
+                    _isLoading.value = false
+                    if (resp.success) {
+                        _toastLiveData.postValue("신고가 접수되었습니다.")
+                    } else {
+                        val message = resp.message ?: "알 수 없는 오류가 발생했습니다. 다시 시도해 주세요."
+                        _toastLiveData.postValue(message)
+                    }
+                }, { e ->
+                    _isLoading.value = false
+                    Logger.e(e, "Character reply report failed")
+                    _toastLiveData.postValue("알 수 없는 오류가 발생했습니다. 다시 시도해 주세요.")
+                })
+        )
+    }
+}
diff --git a/app/src/main/java/kr/co/vividnext/sodalive/di/AppDI.kt b/app/src/main/java/kr/co/vividnext/sodalive/di/AppDI.kt
index 9be10063..e166f46f 100644
--- a/app/src/main/java/kr/co/vividnext/sodalive/di/AppDI.kt
+++ b/app/src/main/java/kr/co/vividnext/sodalive/di/AppDI.kt
@@ -360,6 +360,7 @@ class AppDI(private val context: Context, isDebugMode: Boolean) {
         viewModel { CharacterDetailViewModel(get()) }
         viewModel { TalkTabViewModel(get()) }
         viewModel { kr.co.vividnext.sodalive.chat.character.comment.CharacterCommentListViewModel(get()) }
+        viewModel { kr.co.vividnext.sodalive.chat.character.comment.CharacterCommentReplyViewModel(get()) }
     }
 
     private val repositoryModule = module {