A set of two categories of key operational elements which can be used to construct a framework for analysing how value is constructed in World Heritage candidacy processes is described. The purpose for focusing on the two identified categories is to (1) condense UNESCO World Heritage candidacy processes into a few categories; and (2) provide a systematic basis for the development of a framework for reconstructing and interpreting the value constructed in World Heritage nomination processes. Despite the numerous practical examples in the literature of how value is built during the bidding procedures, little is known about how to analyse the construction of this value and how value can be read and narrated in sites inscribed or nominated on the UNESCO World Heritage List. The paper provides meaningful insights through: (1) the analysis of UNESCO’s constitutive documents; and (2) the data collected from the direct involvement in different candidacy processes. The approach adopted in this study encompasses a dialogue among restoration theories developed by Cesari Brandi and key concepts related to the storytelling practices used for the design of content-oriented visitor attractions. The findings from this study demonstrate that we have two categories of key elements we can focus on for building an approach or a framework that let us read the value of World Heritage as a social construction in a systematic manner. The elements presented in this paper should be extended so that a more general model of reading these processes can be carried out. The paper’s contribution is rooted in its interdisciplinary approach to the subject of cultural heritage, whereby the candidature process and the definition of the value are represented as a social construction that enables the creation of meaning and the making of significant value in the UNESCO context.