Coastal lagoons count among the marine habitats with the highest biological productivity, playing an important ecological role. Together with wetlands in general and coral reefs, they are also amongst the habitats with the highest value derived from the services they provide. This work aims to assess the natural goods and services provided by the Mar Menor coastal lagoon in Murcia (Spain), as well as the environmental risks it is exposed to. This ecosystem, as many coastal lagoons throughout the world, supports a great variety of important services but the resulting pressures are also the reasons that have led to its deterioration, showing signs of impact, whether environmental, social and even economic. In 2011 the European Commission proposed a common strategy on biodiversity, in an attempt to avoid its decline, and claim it as one of the main bases for sustainable economic development. In this context, this work also looks at the socioeconomic value of this emblematic environment using the contingent valuation method (CVM). A questionnaire was developed and presented to inhabitants and visitors of the Mar Menor area, including a broad representation of professions and activities, to identify stakeholder perception of the environment and how they evaluate the importance of ecological processes for maintaining ecosystem functioning and the goods and services provided.The perception and valuation of goods and services provided by ecosystem functioning and biodiversity in the Mar Menor lagoon depended on the different groups considered (by age, professional activity, residence, educational background or sex), although in general, stakeholders, including fishermen, perceived that tourism services are the most important. Interestingly, the sectors related to construction and fishing were well aware of the risks derived from their own activities.The evaluation of services and the perception of the principal environmental risks and impacts were high for all the groups of users considered, and the indirect use and non-use value of the lagoon ecosystem conservation was established in 43,326,181 Euros/year.