We investigate the role of identification with parents in the socialization processes involved in parent-child value similarity. We examine the parenting correlates of identification, of acceptance of perceived parental values, and of value similarity. 547 adolescents reported their own values and the values they perceive that their parents wish for them. Parents reported their socialization values. Identification related positively to accepting perceived parental values. It related positively to value similarity only when adolescents perceived mothers’ values accurately. Identification and acceptance related positively to perceived parental warmth and responsiveness but negatively to perceived parental word-deed inconsistency.