ABSTRACTIntroductionPersonal values act as guiding principles in life and are thought to be connected to affective experiences; however, past research has primarily examined the direction from values to affect rather than the reverse. This study identified theoretical frameworks suggesting a causal pathway from affect to values and tested this pathway using a lexical approach.MethodsStudy 1 (N = 230) developed and validated a Chinese Personal Values Dictionary (CPVD) to assess personal values in Chinese texts, revealing meaningful correlations between self‐report values and those identified through the CPVD. Using the CPVD, Study 1 also investigated the relationship between past affect and values with cross‐sectional data (N = 230), while Study 2 analyzed real‐time panel data from social media (N = 14,020) during the COVID‐19 pandemic.ResultsResults indicated that individuals with positive affect tended to prioritize anxiety‐free values (openness to change and self‐transcendence), suggesting that positive affect fosters a commitment to the greater good, independence, novelty, and personal growth. In contrast, anxiety‐related values (conservation and self‐enhancement) displayed a more intricate relationship with affective experiences, indicating that the mechanisms underlying value development extend beyond mere anxiety‐related factors.ConclusionThis research offers valuable insights into how affective experiences contribute to value development through a lexical approach.