This report presents an economic assessment of the contribution to human well-being by ecosystem services from terrestrial habitats on the Isle of Man. Ecosystem services for each broad habitat type were assessed using value transfer methods. The valuation draws on the results of existing initiatives including the UK National Ecosystem Assessment (NEA) and The Economics of Ecosystems and Biodiversity (TEEB). The specific objectives of this project were firstly, to undertake as full an analysis as possible of economic values of the Isle of Man’s terrestrial ecosystems based on the available datasets, and secondly, to apply value transfer methods to calculate values for each broad habitat type. Six economically important ecosystem services were valued: outdoor recreation; aesthetic enjoyment of the landscape; nature related tourism; flood control; water supply; and water quality regulation. The total annual value of these six services was estimated at £42 million. Due to data limitations, not all ecosystem services from all habitat types could be valued in the assessment. It is also noted that the non-use value of biodiversity (the value that people place on the existence and preservation of biodiversity unrelated to any direct or indirect use) is not yet measured.