Objective This study investigated the effect of the spouses' value preferences on the division of domestic labor in the family. Background Personal value preferences reflect general motivations and thus affect individuals' perception of reality and direct behavior. In the present study, I assumed that the personal value preferences of spouses motivate them to participate in different domains of domestic labor to varying degrees. Method The study was conducted in Israel using a sample of heterosexual couples having at least one child (N = 479). I measured the value preferences of the spouses and division of domestic labor in the family in four domains: traditionally female chores, traditionally male chores, childcare, and emotion work. Dyadic data analysis was conducted using structural equation modeling. Results Among husbands, a higher preference for the self‐transcendence values was associated with a more equal division of domestic labor in the family; that is, with a larger share of husbands in traditionally female chores, childcare, and emotion work, and with their smaller share in traditionally male chores. Among wives, higher preferences for openness to change and self‐enhancement values were associated with a more equal division of domestic labor in the family. Conclusion The results confirmed that the spouses' general motivational goals expressed in their value preferences affected their participation in different domains of domestic labor. Implications The study advances researchers' and practitioners' understanding of the intrapersonal motivational factors affecting the division of domestic labor and provides a solid basis for further research and counseling work with families.