All those born from 1980 to 2000 belong to Generation Y, or Millennial Generation. The latest sociological research indicates that this is the generation that is the best educated and educated of all known generations so far. However, Generation Y faces a variety of obstacles and challenges, and it is difficult for them to find a job, and is referred to in the media as a lost generation. In terms of value, the millennial generation does not aspire so much to financial success in life, but rather focuses on happiness and personal satisfaction. Their motto is "everything and immediately", they are not interested in the average, they communicate quickly and look for work-life balance. It should be noted that they love new experiences and challenges, they are not interested in traditional lifestyles. Their main characteristics are their independence, enterprise, seeking opportunities and respect from society. This paper reviews and analyzes the values of today's Millennium Generation Y, especially in Croatia and Europe. The basic characteristics of Generation Y and the ways in which they relate to life values are presented. The key values for Generation Y in Croatia and Europe are outlined, and it seeks to explain and analyze in more detail how Generation Y desires change, what its thinking and value system are. A comprehensive conclusion is given at the end of the paper.