The aim of this study was to examine the psychometric properties of the Spanish version of the “Values Questionnaire” (VQ) in an Argentine sample. The VQ was administered to a total of 1596 participants. Measures of acceptance and action, cognitive fusion, life satisfaction, and sociodemographic variables were also included. The results confirmed the bifactor structure of the VQ. The scale showed adequate internal consistency and significant correlations with the former variables, which demonstrates adequate criterion validity. Furthermore, obstruction values emerged as a good predictor of low life satisfaction. In conclusion, the Argentine version of the VQ showed good psychometric properties to be used in the Argentinian context.