We studied holographic insulator/superconductor phase transition in the framework of Born-Infeld electrodynamics both numerically and analytically. First we numerically study the effects of the Born-Infeld electrodynamics on the phase transition, find that the critical chemical potential is not changed by the Born-Infeld parameter. Then we employ the variational method for the Sturm-Liouville eigenvalue problem to analytically study the phase transition. The analytical results obtained are found to be consistent with the numerical results.