The formation of career identity is an important coming-of-age issue in both developmental and vocational psychology. This paper introduces universal values (under Schwartz’s theory of basic human values) in addition to the popularly used career interest congruence as predictors of three career identity indicators (commitment making, identification with commitment and self-doubt). Meanwhile, satisfaction with academic major was investigated both as direct influenced by values and as a secondary outcome of having a more established career identity. As a set of factors that have received less attention in career development research, universal values are important internalized beliefs and criteria that deeply influence one’s goal setting and decision making. In the current study, they are hypothesized to influence one’s career identity indicators and academic major satisfaction through their career decision making and self-evaluation processes. We surveyed 562 students from a community college and a public university in Hong Kong and formulated linear regression and structural models that showed significant associations among values, career identity indicators and academic major satisfaction. Openness to change and self-transcendence values were significant positive predictors of identification with career commitment, and self-enhancement values positively predicted career self-doubt. Academic major satisfaction was found to be positively influenced by commitment making and negatively influenced by career self-doubt. Career interest congruence, however, only showed a significant negative slope coefficient when used to predict career self-doubt in linear regression. Implications for career counselling practice were discussed.