Sustainable management initiatives in Shorabil Lake require that economic analysis be identified to help maintain recreational quality of the lake. Shorabil Lake with the area of 150 ha is located in Ardabil city that is one of the most important attractive areas in national and regional level that can attract thousands of recreationists from other areas every year. Thus, the study of recreational value will help prediction of requirements, removing deficiencies and developing recreation in the region. This study was carried out with the aim of estimation recreational value of Shorabil Lake by using contingent valuation method and determining effecting factors. For investigation factors affected on the amount of willing to pay, applied logistic regression with maximum likelihood method. Required data for the study, supplied using of 256 queries from the lake visitors. The results indicated that the average willing to pay for each person to visit lake is 9236 Rials (US$0.75) and annual willing to pay is 155682 Rials (US$126.98). The results can be a key factor in better planning and managing the lake for future.