Although the critical role of relationship value to business has been widely acknowledged, a review of the extant literature reveals that understanding on antecedents of relationship value is limited to relationship-specific factors, and impacts of key customer relationship value on performance still await empirical substantiation. Grounded in dynamic learning capability and social capital perspective, this study collected a sample of 411 principal–agent relationships to examine the relative impact of predictors in creating relationship values from the supplier angle. The result shed light on the significant mediating role of dynamic learning over the linkage between social capital and relationship value.