This paper addresses conceptual issues concerning values in teaching and the professional education of teachers. Proceeding from rejection of a common (empiricist) account of values as subjective tastes, the paper distinguishes three common (more and less restrictive) concepts or senses of value, here referred to under the labels "principled preference", "principled commitment" and "principled disposition". The paper proceeds to argue that, in light of certain distinctive features of teaching as a profession, the key values of teaching should be regarded as "principled dispositions" (or, in another term, virtues). It is further argued that such professional teacher values are best appreciated under the three aspects of "intellectual virtues", "procedural virtues" and "moral virtues" and the paper concludes with a brief exploration of the implications of this analysis for professional teacher education.