With the rapid development of rural tourism, the competition of tourist destinations develops from the initial product competition to the competition of tourist destination brand. However, the value of rural tourism destination brand is not only a creation from a single subject, but multiple-subjects participation. This paper studies the case of Liyang IN Lane in Huangshan to build the value co-creation system of Liyang characteristic cultural blocks brand and explores the mechanism of its value co-creation. The findings are that the value of Liyang special cultural blocks brand is co-created by the interest subjects including tourism companies, residents, local government, makers and tourists. As for a successful value co-creation, the planning of local government and the implementation of cultural tourism integration are the foundation. The participation and interaction of tourists are the key link and makers-oriented tourism value chain is a good way to achieve value co-creation of Liyang characteristic cultural blocks brand.