Shadegan International Wetland (SIW) is a unique natural ecosystem with great national and international significance, designated under Ramsar Convention. Located in southern part of Iran, this wetland serves many functions. Among them the rich biodiversity, ecological, hydrological, and economic functions are the most important. Despite the great opportunities for sustainable development of this wetland, it is currently under serious threats from a diverse range of non-sustainable activities. Underestimating SIW’s non-market values in development decisions is a major reason for the conversion and excessive depletion of its resources. The aim of this study was therefore to estimate the economic benefit of SIW as a very useful instrument to reflect the values of this unique ecosystem to society members. A choice experiment (CE) survey was undertaken to estimate the value of different nonmarket attributes of SIW. In addition to the overall model, users and nonusers preferences were also estimated. Random parameter logit (RPL) model was employed to derive the marginal value of the respondents for different attributes of the nonmarket values of SIW. Results indicated the respondents’ positive preferences towards better conservation of SIW.