The importance of forests has long been associated with timber rather than non-timber forest produce (NIFP) and environmental services (ESs). The interest in assigning values to these NIFP and ESs, such as medicinal plants, biodiversity protection, carbon sequestration and storage services, has increased since it was realized that forests also serve other functions that are equally important to be explored. Ayer Hitam Forest Reserve (AHFR) in Puchong, Selangor, is known to have all the treasured heritage of a rich forest. Nevertheless, due to its strategic location in combination with the current pressure for socio-economic development, the possibility of AHFR being converted into some other uses cannot be ruled out. Every effort must be made to quantify the treasures of AHFR as a centre for research and education, as well as a provider of other environmental services. To date, various scientific studies have been conducted in AHFR, including economic valuation of its timber and identification of its flora and fauna. The identification of the flora, especially medicinal plants, thus far has not involved any form of economic valuation. Results showed that the estimated total economic value of medicinal plants ranged from a low of RM67, 192 to a high of RM254, 255. The medicinal plant species commonly found in AHFR include tongkat ali (Eurycoma longifolia), kacip fatimah (Labisia pumila) and tongkat hj. samad (Prismatomeris sp.).