Purpose: When symptoms of benign prostatic hyperplasia cannot or can no longer be treated by conservative treatment options adequately, various surgical treatment options are available. Different risks and benefits are associated with each type of surgery; the optimal choice depends on the patient's preference. This study analyzes patients' preferences and investigates patient characteristics that might influence patient preferences in Germany. Materials and Methods: We conducted an online discrete choice experiment based on 9 treatment attributes related to risks (probability of ejaculatory dysfunction, permanent incontinence, needing surgery again, and erectile dysfunction) and efficacy (frequency of daytime and nighttime urination, urgency and duration of urination, and time until symptoms improve) of surgeries. To estimate preferences, we applied a mixed-logit model. Subgroup analyses based on patients' characteristics were conducted. Results: Three hundred thirty participants completed the discrete choice experiment. Overall, participants preferred a lower risk of ejaculatory dysfunction, lower urgency and duration of urination, lower probability of permanent incontinence, lower frequency of nighttime and daytime urination, and lower probability of needing another surgery. Moreover, a faster onset of overall symptom reduction was preferred. Several patient characteristics especially characteristics related to a patient's sexual life seem to influence patients' preferences. Conclusions: Significant preference heterogeneity could be observed in this study, and subgroup analyses suggest differences in preferences in relation to patients' characteristics. These findings highlight the need for individualized treatment decisions. Physicians should evaluate patients' clinical but also inquire about a patient's personal situation and preferences to select the optimal treatment in collaboration with the individual patient.