The parametric decay instability of upper hybrid wave into low-frequency electromagnetic Shear Alfvén wave and Ordinary mode radiation (O-mode) has been investigated in an electron-ion plasma immersed in the uniform external magnetic field. Incorporating quantum effect due to electron spin, the fluid model has been used to investigate the linear and nonlinear response of the plasma species for three-wave coupling in a magnetoplasma. It is shown that the spin of electrons has considerable effect on the parametric decay of upper hybrid wave into Ordinary mode radiation (O-mode) and Shear Alfvén wave even in classical regime.