Abstract: Governance includes not only institutional governance, but also non-institutional governance.Under the influence of performationism and managerialism, institutional governance, with its scientific and efficient advantages, has long occupied the dominant position in China’s higher education governance.However, there are also some problems in institutional governance, such as surface governance, institutional squeeze, and governance rigidity. As a typical paradigm of non-institutional governance, value governance has become an important means of national governance in China.At present, China’s higher education is changing from high-speed growth to high-quality development. We should attach great importance to the role of value governance and take value governance as a beneficial supplement to institutional governance. The implementation of value governance in higher education needs to pay attention to the construction of organizational values, accelerate the construction of world-class core values of higher education with Chinese characteristics, build a value integration and internalization mechanism, improve the channels of value negotiation and internalization, give play to the guiding role of the government and colleges and universities and improve the status of value governance.