Introduction. The concept of LAUGHTER is a significant linguocultural concept. The study of the axiological component in the meaning of the lexeme laughter as a key nomination of the concept LAUGHTER demonstrates the significance of this concept for Russian linguistic culture and contributes to the identification of invariant (universal) and specific (national) features in its content. The purpose of the article is to consider the value component in the structure of the concept LAUGHTER by analyzing the meaning of its representative – the lexeme laughter. Material and methods. The material for the analysis of the value component of the concept LAUGHTER in the national linguistic picture of the world was Russian proverbs, as well as data from lexicographic sources and the national corpus of the Russian language, in which the verbal marker of the concept appears – the lexeme “laughter”. Research methods: lexico-semantic, contextual, seme analysis, elements of linguoculturological and linguoconceptological analysis. Results and discussion. From the standpoint of subject correlation, laughter is short characteristic voice sounds that express various human feelings, from the point of view of conceptual correlation, laughter is a complex concept that correlates with reflection. The connotative component of the lexeme laughter is expressed in the seme appraisal. The specificity of the Russian national concept of laughter is the understanding of laughter as a way of expressing a contradictory assessment of someone else’s (including one’s own) actions, facts and phenomena of reality, from joy and fun to irony and ridicule. Laughter, in the view of native speakers of the Russian language, is a phenomenon whose axiological specificity lies in the property of ambivalence. Conclusion. The contextual analysis of the lexeme laughter as a nominee of the concept of the same name allows us to speak about the significance of the concept LAUGHTER for native speakers of the Russian language, since the lexeme laughter is used by the speaker as a means of assessing a particular situation. The value component of the LAUGHTER concept tends to vary: from a negative assessment of actions, facts, phenomena of reality to a neutral and positive one. The determining factors are the presence of subjective factors, as well as national-cultural and historical features of the development of the people. The national specificity of the concept LAUGHTER lies in the antinomy, paradoxical nature of the interpretation of laughter in the Russian language picture of the world.