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Whether and to what degree psychotherapy leads to changes in patients’ value-based actions is not well documented. In this study we examined whether cognitive behavioral therapy, without explicit values work, enhancedvalue-oriented action. We also explored the role of change in valued action for subsequent life satisfaction and continued change after therapy. Additionally, data on the reliability and validity of the Valued Living Questionnaire (VLQ) are reported. We analyzed the pre-, post-, and 6-month-follow-up-data of 3,687patients of a university psychotherapy outpatient clinic, most of which suffered from reliably diagnosed anxiety and mood disorders. Questionnaires included the VLQ (with 10 items each on the "importance" and "consistency" of values),symptom scales (Beck Depression Inventory; Brief Symptom Inventory), and the Satisfaction with Life Scale. Over the course of therapy significant improvements in value-oriented action were found (d= .34), especially in treatment responders (d= .51). Increase of value-oriented action significantly explained satisfaction with life at end of treatment, even after controlling forsymptom reduction. Temporally preceding improvement on the VLQ predicted further symptom reduction until follow-up. Data indicate that psychotherapy positively affects valued living, even when itis not explicitlytargeted in treatment. Valuedliving may have a role in the course and maintenance of therapeutic change.