Various scholars and research institutions have attempted to assess High Conservation Values (HCVs) using different methodologies and approaches. Various countries have developed toolkits to determine High Conservation Value Areas (HCVAs) according to their needs and conservation strategies but there is no global agreement on them. The present study attempts to review research papers and assessment reports from 1999 until 2018 on approaches and methodologies used for HCVs all over the world and provide a review into HCV research systematically, with due consideration to the linkages between Biodiversity, Ecosystem Services and Socio-Economic-Cultural values. We analyzed and examined the trends which are emerging and gaps present in HCV assessments evident from literature reviewed by experts, including the spatial spread of research, the evolving use and content of the concept, and consultation with stakeholders. A total, 80 articles were taken from Scopus and various reputed journals and reports using keywords like HCV and Forest Stewardship Council (FSC) to specifically focus on the application and evolution of the concept designed by FSC. The study was done in the hope to help in analyzing different HCV components as a conservation planning tool and guide new research in methodologies to fill the current gaps and enhance HCV assessments at different levels of application. The review result revealed that the HCV approach is an effective tool for delineating the conservation priority areas and reduce the uncontrolled extraction of natural resources. The findings display the focus area in HCV research that are surveying methods, fields of application and the dynamics between social and environmental components of HCV categories.