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The co-creation of value has become important in recent decades for Marketing Management, allowing constant improvements for companies. The co-creation of value seeks to understand consumer behavior in face of the changes verified in the business market, which requires companies different ways to determine needs, exploring approaches for value creation. The academic universe is no different from the described business context and in the classroom, so that the teaching and learning process is satisfactory, it becomes necessary the participation, interaction, relationships and mutual exchange of experiences between teacher and student. In private higher education, the student satisfaction and the co-creation of value are the result of individual or joint actions (teacher, institution and student). Methodologically, this study was characterized as a case study, with qualitative data analysis, with teachers and students of a University in southern Brazil. In private higher education, the student satisfaction and the co-creation of value are the result of individual or joint actions, developed from relationships involving a number of actors(stakeholders).