Stated preference (SP) methods such as contingent valuation and choice experiments are often used to estimate values associated with marine and coastal ecosystem services. However, applications do not always apply best practices, leading to questions regarding the validity and relevance of welfare estimates. This presentation outlines contemporary best-practice recommendations for SP studies intended to inform decision-making, grounded in the accumulated body of knowledge from the peer-reviewed literature. The presentation begins with the core guidelines presented in the article “Contemporary Guidance for Stated Preference Studies” (Johnston et al., 2017, Journal of the Association of Environmental and Resource Economists), and then discusses how these guidelines apply and may be adapted to the specific case of marine and coastal ecosystem services. These recommendations consider (a) the use of SP methods to estimate both use and non-use values, (b) the comprehensive SP domain, including both contingent valuation and choice experiments, and (c) a broad spectrum of contemporary applications to marine and coastal ecosystem services. The recommendations focus on major decisions that must be made as part of any SP study. A primary goal is to reduce uncertainty surrounding the use of SP methods to inform decisions, and to assist researchers, practitioners, reviewers, users, and funders to understand best practices when considering designing, implementing, or using the estimates from SP studies.