The means‐end chains theory was used in this study to explore the attributes most valued by TikTok users and to examine the resulting psychological values generated. Laddering interviews were used for content analysis and “online video sharing platform attributes—user consequences—personal values” psychological cognitive structures, from a perspective of the user were constructed using the structural implication matrix and hierarchical value map. A total of 34 elements were identified from the results of the study. The categorization of attribute elements was also expanded to include motivation for social media communication and interaction, which have not been previously explored. The results showed that diverse video genre, interesting video content, easy‐to‐use interface, visual effects application, and community sharing and recommendation are key platform attributes valued by users. The facilitating observational learning, promoting the joy of life, raising convenience, having fun with friends, relieving emotional stress, and other user consequences were generated by platform attributes. And lastly, personal values such as a sense of accomplishment, fun and enjoyment of life, warm relationships with others, and sense of belonging were gained. In addition, the study also finds that there are differences in the psychological cognitive structures between genders and that the correlations and influences among the elements have different degrees of significance. These findings can give marketers and policymakers a better understanding of the behavior of TikTok users and help them develop better strategies for marketing and promotion of the platform.