In this chapter, a general theoretical model is proposed that links learners’ satisfaction and learners’ value of e-learning systems in order to assess learners’ perceived effectiveness of such systems. The central research question in this study is: Is there a relationship between learners’ perceived satisfaction with e-learning systems and learners’ perceived value for learners’ perceived effectiveness of e-learning systems? The significance of the value construct in the context of e-learning systems has never been evaluated. How the value of e-learning systems relates to other constructs, such as satisfaction with e-learning systems and ultimately whether the value of e-learning systems can be used to indicate learners’ perceived IS effectiveness remains open. In this chapter, a general conceptual model or framework is proposed to address this phenomenon in the context of e-learning systems. The proposed model or framework will provide procedures to identify and measure the key constructs (satisfaction with e-learning systems, value of e-learning systems, and effectiveness of e-learning systems). This chapter also defines precisely the individual characteristics and four major dimensions (categories) for evaluating value of e-learning systems and satisfaction with e-learning systems based on comprehensive literature reviewed in Chapters II and III. Additionally, this chapter proposes five specific research questions that are addressed in Chapter VII. Two additional specific research questions are proposed in Chapters V and VI.