We analyze the effects of the sensor signal-to-noise ratio (SNR) requirements for atmospheric correction of satellite ocean color remote sensing using the near-infrared (NIR) and shortwave infrared (SWIR) bands. Using the Gaussian noise model for the sensor noise distribution in the NIR and SWIR bands, some extensive simulations have been carried out to evaluate and assess the effects of sensor NIR and SWIR SNR values on the retrieved normalized water-leaving reflectance spectra ρwN(λ), which are used to derive all ocean or inland water biological and biogeochemical property data. The standard atmospheric correction algorithm for global oceans and inland waters using the two NIR bands, i.e., Gordon and Wang (1994) [Appl. Opt.33, 443 (1994)Appl. Opt.46, 1535 (2007)], is assumed in the evaluation. Specifically, the minimum and goal SNR requirements for the NIR and SWIR bands for atmospheric correction are estimated. The minimum SNR values are those with which sufficiently accurate ρwN(λ) can be derived, while the goal SNR requirements are those with which the atmospheric correction algorithms reach to their corresponding inherent limitations (or inherent errors), i.e., no gains can be achieved with further increase of SNR values in the NIR and SWIR bands. Evaluation results show that the minimum SNR requirement for the two NIR bands is ~200-300, while the minimum SNR requirement for the three SWIR bands is ~100. For the goal SNR requirements, the recommendations are SNR's of ~600 and ~200 for the two NIR bands and three SWIR bands, respectively.