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The purpose of this study is to estimate the economic value of Changdeokgung which is one of the World Heritages located in Seoul City, using a Contingent Valuation Method(CVM). A dichotomous choice question form for a CVM was applied to estimate the use values of Changdeokgung.The data collection from a dichotomous choice was constructed by the logit model. As a result of this process, the WTP derived from the log logit model was used to estimate the use value of Changdeokgung. As a result of this study, the use value of Changdeokgung was estimated 1.45 billion won, with an average WTP of about 6,000 won per visitor. The study’s results are expected help to reconsider policies of admission fees levied in the heritage tourism destination.