Phi Sigma Phi is driven by a core set of values. These are living values: We use them to evaluate our successes and to ensure that we are doing all we can to help our Fraternity, and our Brothers.

1. We Are Here to Serve Phi Sigma Phi and our Brothers. In Phi Sigma Phi, each member's top priority is to enhance the quality of life for our Brothers and render support to others when appropriate. In all we do we must do in a spirit of excellence.
2. Our Chapter Succeeds When Our Brothers Succeed. The ultimate indicator of the success of our Chapter’s development is whether the quality of each Brother’s life has improved.
3. Idealism Is Essential. Relying on good judgment, expertise, and a healthy dose of energy and enthusiasm, members use idealism to accept new challenges daily. But we must make fact-based decisions based on real circumstances.
4. A Simple Solution Is Often the Best Solution. Phi Sigma Phi strives to develop the simplest, most direct, and most effective approach to problem solving. We must be fair and just in our decision-making.
5. We Will Take on the Biggest Challenges. Phi Sigma Phi believes that given the opportunity, even the most difficult challenges presented by an individual can be addressed, and a member with seemingly insurmountable troubles can succeed. He is responsible for his own life and his own actions. He holds himself accountable for his shortcomings.
6. We Are All Mentors. Each of us, whether an Executive Officer, appointed chairman, Big Brother, National Staff, or general member, has the opportunity to interact with our Brothers, Associates, and neighbors in a productive manner. Trust between the Big Brother and the Little Brother is essential for initial growth. Consistency between Brotherly attitude, drive and intent is critical for healthy member development and Chapter longevity.
7. We Encourage Growth and Leadership In Our Members. Phi Sigma Phi provides the experience and knowledge members need to become effective leaders in their Chapter, their profession and in their communities. At one time or another, we all are called to lead, and lead we must.
8. We Strive for Quality – Nothing Less Than the Best. Since 1988, Phi Sigma Phi has striven to provide the highest quality of programs available to Chapters, Colonies and its members. Through careful documentation and self-evaluation, we continue this pledge today.
9. It's OK to Have Fun. As serious as we are about our work and liability outcomes of risky behaviors, we also believe in finding joy in what we do. We encourage spontaneity, accept individuality, and enjoy social gatherings when they serve a legitimate purpose.
10. We Are Only Part of the Solution. We believe collaborations are essential to success. Working closely with other members, chapters, organizations and leadership sources, Phi Sigma Phi develops integrated plans based on a shared understanding of the problems, strengths, and goals of each Chapter, Colony and member.
11. We Don't Give Up on Our Fraternity, Chapter, Colony or members. Giving up is never an option. We develop innovative approaches, advocate for additional options to learn, or even push systems to create something new in efforts to find hope for Chapters and Colonies.
12. Once a Phi Sig Man, Always a Gentleman. Our commitment and responsibility to our Brothers and their well-being never ends. Phi Sigma Phi forms a lasting bond with its members and maintains its loyalty and endures over time. Good Standing requirements include financial, attitudinal, behavioral, academic, and participatory.