This paper presents goods and services approach to determine the economic value of Monachus monachuswith the aim of clarifying the role of valuation in the management and conservation of marine biodiversity. More specifically, it uses Contingent valuation method to estimate the existence value of the Mediterranean seal population that is predicted to be lost in the future if we not take any measure today to protect them. Our empirical findings suggest that the major variables affecting respondents’ willingness to pay were related to respondents’ attitude against reasons (values) of monk seals conservations with non use value to play the most important role. Results show that monk seal is highly valued and people are willing to pay for the most endangered seal in Europe. The results would help the choice of management strategies; the economic valuation of monk seal is a key part of any successful management plane informs conservation biologists and policy makers about opportunity costs of protection activities. Key words: Contingent valuation, economic value, endangered species, Mediterranean monk seal.