The present study examined the relationship between music preferences, values, and musical identities in a sample of 606 Greek college students. Students indicated the importance of music in defining and evaluating themselves and their values on an abbreviated version of the Schwartz Value Survey (Schwartz, 1992). A typology of music preferences was revealed, with five factors: sophisticated and complex (e.g., jazz); native-Greek traditional (e.g., ‘rebetika’); sentimental and sensational (e.g., pop); established rebellious (e.g., rock); and non-mainstream dissonant (e.g., punk). Hierarchical regression analyses showed that values and perceived importance of music to self-definition (i.e., musical identities) contribute differentially in predicting the music preference structures, for example self-transcendence predicted established rebellious and conservation predicted sentimental and sensational; also musical identity was positively related to established rebellious and negatively to sentimental and sensational. These findings are discussed and interpreted within a psychological, as well as an interdisciplinary, theoretical framework.