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Pesantren is one of the educational institutions that have contributed to the development of human capital in Indonesia. This can be understood considering that most of Indonesian people are Muslims. To comprehend the role of pesantren in human capital development, it is necessary to identify and then analize the value chain model of human capital development in pesantren. This research uses qualitative descriptive method with value chain approach as a model of analysis to reveal research problem. This research was conducted at several pesantren in Sukabumi and Garut, West Java Province, Indonesia. The results of the study obtained from the analysis of the value chain model show that the process of developing human capital through education in pesantren is oriented to religious values, emphasizing on the importance of education in aspects of morality, intellectuality, creativity, and independence. The development of human capital through religious values-oriented education is a fundamental foundation for the primacy of education in pesantren. Other supporting aspects are the formed institutional culture that gives color to the development of human capital in pesantren, supported by organizational structures that enable relationships communication and knowledge sharing directly between stakeholders in pesantren.