OBJECTIVES:  Many economic analyses fail to incorporate evidence on child health-related quality of life (HRQoL) due to a paucity of quality-adjusted life year (QALY) estimates. This health valuation study is the first to summarize the EQ-5D-Y on a QALY scale.  METHODS:  Drawn from a nationally representative panel, 5207 adult respondents were asked to choose between 2 losses in child HRQoL.  RESULTS:  Based on their choices, a 1-year increase in child pain/discomfort from “some” to “a lot” equals a loss of 4 QALYs (CI 95% 3.8-4.4). Likewise, a 1-year increase in child anxiety/depression from “a bit” to “very worried, sad or unhappy” equals a loss of 2 QALYs (CI 95% 1.9-2.2).  CONCLUSIONS: These findings enable the integration of child-reported outcomes with adult preferences to inform economic analysis. Results inform both clinical practice and resource allocation decisions by enhancing understanding of difficult tradeoffs in child-reported outcomes.