Chinese philosophy of value arose from reflection on the Cultural Revolution and an inherent need amidst the implementation of reform and opening up, and it was directly triggered by extensive discussions about the standard of truth. The development of the philosophy of value over the past forty years shifted from value to evaluation before moving on to the research topics of values, in particular core socialist values. Currently, its major characteristics are the unity of theoretical logic and practical logic, the mutual interaction between and enhancement of the study of the philosophy of value and research on Marxist philosophy, and exchanges and dialogues with foreign philosophies of value. Its main achievements in the philosophy of value include the implementation of a subjective paradigm based on the theory of practice and the theoretical construction and clarification of core socialist values. Future directions for the development of the philosophy of value include improving subjective interpretation on the basis of the theory of practice, deeply exploring value concepts and value principles in the new form of civilization, and bringing the philosophy of value into interaction with multidisciplinary research.