Personal values influence goals and motivate actions. The case study reported in this paper explored whether an understanding of values would provide a useful framework to guide the co-creation of the undergraduate cognitive psychology curriculum at a UK University. A design team composed of staff and students ran two co-creation workshops to explore underlying values. These values were translated into curriculum ideas which were then shared via an online survey to students and staff for feedback. The activities revealed a set of values that were salient when imagining future curriculum designs: feeling stimulated, choice and autonomy, developing competence, feeling safe and secure, community and fairness. In addition, a deeper value layer was visible which reflected participants' orientations to learning and education. We describe our process for eliciting values and the intertwined and iterative relationship between value elicitation and a co-created curriculum. We also reflect on the position of co-creation within the value landscape of higher education and the social dynamics of staff-student partnerships. We argue that whilst using values to frame co-creation allows for deeper insight into how to embed curriculum re-innovation, it is important to attend to the value system of co-creation and those who do not participate.