The empirical study was conducted to examine the effect of festival experience on festival image and the effect of festival image on festival valuation targeting people who had participated in the experience programs by visiting the Hampyeong Butterfly Festival. The study results demonstrate that festival experience had a positive effect on festival image, which is significant. In addition, festival experience had a positive effect on the festival valuation, which is significant, while festival image had a positive effect on the festival valuation, which is significant. The study results are meaningful in that the operation of various experience programs not only enhances the festival image, but also increases the consumption of tourists, leading to the income increase of local residents and the activation of the local economy.