Co-creation in service is essential through facilitating the coordination between customers and service providers. A holistic understanding of value co-creation in professional services can ensure the improvement of service experience. The objective of this paper is to form a praxis model of value co-creation in professional services. The authors performed a Systematic Review of Literature (SRL) by analyzing 113 research documents and articles on co-creation literature within the year range 1996-2021. The study assimilated the key considerations of co-creation in the professional service context. These led to the formation of a conceptual framework. This study identifies the roles of the actors in value co-creation and outlines the procedures for involving the customers. The paper also provides the inhibitors and enablers of co-creation. The study makes contribution to the existing literature by delineating the criteria and factors for co-creation in the professional service context. The praxis model of co-creation developed here could also be beneficial for the practitioners in improving service design.