This volume contains good practice protocols for the economic valuation of non-market forest goods and services developed by participants to the European Cooperation in Science and Technology (COST) Action 45 “European forest externalities (EUROFOREX – COST E45). A previous version of this guide was made available by DiGeSA, University of Catania, Italy. The starting point for the Action was that, although there is a considerable body of research in Europe concerning the valuation of forest externalities, the results from these valuation studies are often not comparable due to variations in the application of the valuation methods and the reporting of results. The aim of the protocols is to facilitate a better and more consistent application and reporting of nonmarket valuation projects. Action E45 involved 20 European countries and two non-European institutions, from New Zealand and Tunisia. It was organized into three working groups, each focusing on a family of valuation methods. One group was concerned with the stated preference methods. Two variants were studied in particular: contingent valuation and choice experiments. Another working group focused on the use of the revealed preference methods, such as the hedonic pricing approach and the travel cost models. The remaining group covered the benefit transfer approaches.