Value co-creation has become an emerging venue of the customer engagement research. The purpose of the study is to investigate a model that represents the process (behavior and value) and consequence (satisfaction) of customer co-creation in the restaurant context. Specifically, with the theoretical support of service-dominant logic, the present study explores customer co-creation behavior as a key predictor of co-created value, which in turn leads to customer satisfaction. The results of the study confirm that customer value cocreation is a subtle process by examining the relationship between customer co-creation behavior at the “co-production” stage and co-created value at the “co-creation of value” stage. The findings of the study contribute to the evolving knowledge of customer cocreation of value, and offer practitioners in the hospitality and tourism industry effective marketing strategies based on re-examining customer relationships and engagement, thereby maximizing customer value.