This study examines the underpinning core values which educators ought to have, and students must acquire at schools adequately according to preservice teachers' perception. The research was designed according to the quantitative model, and three open-ended questions questionnaire was used for data collection. The research group involved 263 preservice teachers. The data were analyzed using descriptive statistics. Findings, first, revealed 17 values that teachers ought to have, 21 values that school principals ought to have, and 20 values that students ought to acquire. The revealed values were also categorized as follows: moral values, professional values, and cultural values. Examining the ideas of preservice teachers has importance because they carry the existing values and in return affect the value formation of the society in the future.