Are values objective or subjective? To clarify this question we start with an overview of the main concepts and debates in the philosophy of values. We then discuss the arguments for and against value realism, the thesis that there are objective evaluative facts. By contrast with value anti-realism, which is generally associated with sentimentalism, according to which evaluative judgements are grounded in sentiments, value realism is commonly coupled with rationalism. Against this common view, we argue that value realism can be combined with sentimentalism, and we suggest that a plausible account, which we call ‘sentimental realism’, and according to which evaluative judgements are closely related to emotions, can be developped.