This study is mainly emphasized on a present day"s erosion of values of the society. Social, moral, behavioral, religious and many more aspects of human life has its own value from its inception or outset. But gradually they are losing its value in present time. Degradation of values led society to face serious problems, in some cases becomes obstacle in the way of progress. Today"s news media are flooded with the news of anti social activities like murder, rape, corruption, cyber crime etc., these are effects of value erosion. Whenever a conflict arises between a stable social order and changeable materialistic life style, value crisis become dominant. There are many factors responsible for value crisis in one"s life such as psychological development, lack of trust, love and respect etc. Parents, teachers and all other peoples of our society plays the role in inculcating values in a child through education and practices directly and indirectly. Though few steps are taken to avert value erosion, there is gulf between the progress of intellectual materialistic life and moral spiritual values. So, we should promote the moral, spiritual and social value to create a peaceful balanced society. We will be able to reestablish the glory of our very basic culture - “Satyam- Shivam-Sundaram”.