Valuation of nature is an important aspect of nature conservation and restoration. Understanding valuation in a broad sense may contribute to conservation strategies since it may lead to better support from society. In this article we propose a model of valuation with respect to conservation and restoration of nature. According to the model, valuation of nature can be characterized by a “valuation approach,” consisting of ecological, ethical and aesthetic perspectives. Such an approach includes scientific and normative aspects and leads to a particular claim of conservation. In this paper we discuss different perspectives, and accordingly, we sketch three main types of these valuation approaches. Political and policy issues with respect to nature conservation and restoration are considered in terms of this model.