In recent years, it is important to grasp the economic value evaluation of the waterfront space created by public works. This study aimed to understand the value consciousness and economic value evaluation of waterfront space creat ed, and to clarify the relevance of the value consciousness and the economic value evaluation. The subject of this study is the waterfront space of Horikawa River that has been created by the waterfront environmental improvement project of Kyoto city. A questionnaire survey was conducted for neighboring residents of Horikawa River and using the CVM to grasp the economic value evaluation of Horikawa River. From the survey results, the value consciousness of the subject was conducted the quantification theory class Ⅲ and cluster analysis and classified from the evaluation trend into two groups. As a result, two groups trend to evaluate the value consciousness of landscape elements and space utilization. Also a result of the factor ana lysis, four value consciousness, history and culture, community space of the region, trees, river flow has been found to be associated with the economic value evaluation, especially community space of the region suggested strong correlation coefficient.