As Chinese game market growing mature, cultivating loyal game users has become the new goals for game companies. Based on the theory of game users experience, this paper constructs the structural model of customer with the variables of perceived value, customer satisfaction and customer loyalty and studies the relationship between the game users’ hedonic/utilitarian value and customer satisfaction/customer loyalty from the perspective of the game user utilitarian value and hedonic value. The study finds that the game users’ perceived value has a positive effect on customer satisfaction and customer loyalty; while hedonic value has a more significant effect on customer satisfaction than utilitarian value, the latter one has a greater significant effect on customer loyalty than the former one; customer satisfaction has a positive effect on customer loyalty; hedonic value and utilitarian value interact and influence with each other. Implication and recommendation of this research is that enhancing the hedonic and utilitarian value of game users by game companies which is one of the effective ways to improve game users’ satisfaction and loyalty.