ObjectiveThis study explores the reappraisal of personal values among people with cancer post‐diagnosis and its connections to meaningfulness, encompassing personal meaning and sense of meaning, and various dimensions of quality of life.MethodsA total of 144 patients with diverse cancer types and a control group comprising 158 healthy adults with similar demographic characteristics completed the Valued Living Questionnaire‐Perceived Change, the Personal Meaning Profile‐Brief, the Portrait Values Questionnaire, and the Functional Assessment of Chronic Illness Therapy‐Spiritual Well‐Being.ResultsCancer patients displayed a substantial values reappraisal compared to healthy adults. They reported an increased significance of social areas and self‐transcendental values, including close relationships (family, partner, and friends), spirituality, citizenship, and universalism, as well as an increased importance of self‐care and self in general. Conversely, cancer patients assigned less importance to work and self‐enhancement values such as stimulation, power, and achievement. Cluster analysis revealed that patients who reappraised their values exhibited higher meaningfulness and better indicators of quality of life, including spiritual and physical well‐being, compared to patients who did not modify their value system.ConclusionsThese findings underscore the importance of assessing and promoting meaning‐in‐life adaptability among people with cancer, with potential applications in meaning‐centered therapies and interventions aimed at enhancing psychological flexibility.