ABSTRACT Despite formal recognition of the need to incorporate multiple values in the assessment of ecosystem services, the operationalisation of a consistent integration of different types of values is still limited. This article assesses stakeholders’ perception and monetary (economic) values of ecosystem services delivered by the Kilombero wetland in Tanzania. A mixed-methods approach was employed, which included deliberative elements (diverse stakeholder focus groups) to recognise stakeholders’ perceptions on important ecosystem services alongside a survey to collect data on household characteristics, land use, status of ecosystem services and economic values of six provisioning ecosystem services (paddy production, maize production, water for domestic use, fishing, firewood and thatch grass). Findings revealed that stakeholder groups perceived the importance of ecosystem services differently. Analysis of the six provisioning ecosystem services in economic terms showed that paddy production generated the highest share of monetary value of about 56%. Furthermore, the study found out that there were differences in perceived and monetary values generated; for instance, paddy had much higher economic values than people acknowledged. The combined use of deliberative and monetary values is imperative in the assessment of ecosystem services as it will provide specific and complementary roles in supporting a management plan for the wetland ecosystem. EDITED BY Marta Berbés-Blázques