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Individuals utilize cognitive structures or prototypes specifying the traits and abilities that characterize the effective leader. The present study offers insights into understanding how teachers' personal values (self enhancement and self-transcendence) explain the preference for styles of effective principal. Beyond the direct effect on perceptions of the effective type of leader, we argue that values may also interact with organizational contexts in influencing perceptions. We suggest that teachers' managerial position may moderate the relationships between personal values and perception of the effective principal. Two hundred fifty five Israeli teachers participated in this study by completing questionnaires. The findings support the hypothesized effects of personal values on perceptions of the effective principal. However hypotheses regarding moderation effect were not supported.