Although a great deal of research has been conducted on compulsive buying, little if any, research has explored compulsive buying from a wider theoretical perspective, encompassing all types of values as potential drivers of compulsive buying. In particular, no comprehensive research has been conducted in the diagnosis of mechanisms that direct the development of compulsive buying from the perspective of personal values theory. Thus, the objective of the current research was to explore compulsive buying within Schwartz’s value model, as well as examining the role particular values play as predictors of compulsive buying. Data were obtained from randomly selected students (young adults), whose ages ranged from 17 to 25 years-old, enrolled at professional and high schools, and at universities in Poland. Personal values were measured by the Polish version of Personal Values Questionnaire, while compulsive buying propensity was assessed by the Polish version of the Richmond Compulsive Buying Scale. Generally, the study’s hypotheses were supported by SEM analysis. That is, those who held values comprising “Self-Enhancement” and “Openness to Change” were more likely to be compulsive buyers. In contrast, those who held values comprising “Self-Transcendence” and “Conservation” were more likely to be non-compulsive buyers. Compulsive buyers were more self-focused, hedonistic, power- and achievement-oriented than non-compulsive buyers. Finally, values that emphasized importance of communal rather than individualistic goals appeared to prevent compulsive buying.