Valuing Learning is the process of promoting participation in and outcomes of (formal or non-formal) learning and as such the organising principle for lifelong learning strategies. It aims at the recognition and validation of prior learning (VPL) and further development. Four main models of Valuing Learning can be distinguished: (1) the "educational model" for initiating particular qualifications, (2) the "upgrade model" for determining an organisation's need for competences, (3) the "Human Resource Development (HRD) model" for matching employees' competences to organisational aims, and (4) the "lifelong learning model" for supporting personal development. In this article Valuing Learning is explained in the broad context of Europe's development as a learning society. (Contains 2 tables, 1 figure and 2 footnotes.)