The feasibility of using three commonly available packaging films viz. low-density polyethylene (50 and 70 μm thickness), polypropylene (25 and 50 μm thickness), and polyvinyl chloride (PVC) (40 and 50 μm thickness) at 5 and 10 °C were studied for optimum storage of guava. At each temperature, the oxygen, carbon dioxide, and water vapor transmission rates (OTR, CTR, and WVTR) requirement of guava were compared with those of the selected films. The storage life, peel color and pulp firmness of guava at the end of the storage in each packaging film were analyzed. The OTR and CTR required for designing the modified atmosphere packaging of guava were relatively close to that available with the PVC films but, the required WVTR was higher than that available with the studied films. Highest storage-life (25 and 20 days at 5 and 10 °C, respectively) were observed in PVC 40 film, and at the end of the storage the samples showed brighter color, lower firmness and were perceived as mature and highly acceptable by the judges. The available WVTR of PVC 40 film was highest. Hence, it may be used for storage of guava with estimated mass of moisture scrubber to prevent in-package condensation.