Abstract. Let G be a connected reductive algebraic group. We prove that the string parametrization of a crystal basis for a finite dimensional irreducible representation of G extends to a natural valuation on the field of rational functions on the flag variety G/B, which is a highest term valuation corresponding to a coordinate system on a Bott-Samelson variety. This shows that the string polytopes associated to irreducible representations, can be realized as Newton-Okounkov bodies for the flag variety. This is closely related to an earlier result of A. Okounkov for the Gelfand-Cetlin polytopes of the symplectic group [Ok98]. As a corollary we recover a multiplicativity property of the canonical basis due to P. Caldero. We generalize the results to spherical varieties. From these the existence of SAGBI bases for the homogeneous coordinate rings of flag and spherical varieties, as well as their toric degenerations follow recovering results in [Cal02,AlBr04,Kav05].