The purpose of this study is to identify the effect of immediate online travel community's travel product on perceived value and then identify the influence of the perceived value on community's satisfaction and commitment. The questionnaire was distributed over two month period from July 1 to September 1, 2008. Of the 250 distributed questionnaires 198 copies were used in the analysis to give a response rate of 79.0 percent. The results of this study are as follows. It was founded that online travel community's travel product(product quality, product price, committee trust) have a significant effect on community member's perceived value, and that this perceived value have a significant community satisfaction. Additionally, it was founded that online travel community's travel product have a partly effect on community's satisfaction. finally, community' satisfaction have a significant effect on community's commitment.