OBJECTIVES: To derive Australian utility values for different health states associated with a new antiarrhythmic drug, dronedarone, for the treatment of patients with atrial fibrillation (AF).   METHODS:  oOne hundred nineteen participants were recruited by an independent research company.  They ranged from 18–69 years (mean age 44 years).  Participants were presented information about AF, as well as treatment for their disease.  Participants were then presented with 8 health states describing AF and its treatment and were asked to value these using a standard gamble technique.   RESULTS: The results demonstrated that participants had a strong understanding of the condition and its treatment, and successfully valued the health states, applying values derived for the 8 health states (AF, mild stroke, moderate stroke, severe stroke, myocardial infarction, mild stroke and myocardial infarction, moderate stroke and myocardial infarction, and severe stroke and myocardial infarction) and their varying severity levels in a logical sequence.  Values ranged from 0.41 (SD = 0.25) for the health state describing a patient with severe stroke and myocardial infarction, to 0.78 (SD = 0.22) describing a patient experiencing a mild stroke.   CONCLUSIONS: Overall, the results of this study show that a sample of the general Australian population is able to use the standard gamble successfully to derive utility values for atrial fibrillation health states.