Urban　Underground　Space　(UUS)　is　recognized　as　a　critical　contributor　to　urban　safety,　resilience,　and　sustainable　development.　As　urban　development　transitions　into　the　phase　of　stock　renewal,　issues　such　as　the　functional　misalignment　between　aboveground　and　underground　spaces,　mismatched　supply　and　demand,　low　utilization　efficiency,　and　poor　spatial　quality　have　become　increasingly　prominent,　particularly　in　urban　block　renewal　projects.　This　study　develops　an　Urban　Underground　Space　Reuse　Value　Evaluation　model　(UUS-RVE)　based　on　the　coupling　coordination　degree　of　UUS　at　the　street　level　and　the　regeneration　potential　of　UUS　at　the　community　level.　The　objective　is　to　identify　value　tiers　for　UUS　regeneration　and　reuse,　thereby　providing　scientific　decision-making　support　for　the　precise　and　efficient　utilization　of　underground　spaces.　Using　Fangzhuang　Subdistrict-the　large　residential　area　in　Beijing-as　a　case　study,　the　findings　reveal　a　significant　correlation　between　the　reuse　value　level　of　UUS　and　its　＂distance　to　metro　stations.＂　Additionally,　factors　such　as　＂proximity　to　metro　station　entrances,　spatial　ownership,　functional　diversity　of　the　underground　space,　15minute　living　circle　accessibility,　and　average　housing　prices＂　exhibit　strong　associations　with　the　reuse　value　of　UUS.　The　reutilization　potential　of　UUS　is　jointly　influenced　by　the　coupling　and　coordination　degree　of　aboveground　and　underground　functions　(D)　and　the　regeneration　potential　of　underground　space　(P).　Simultaneously,　by　integrating　the　＂value　assessment　levels＂　and　＂community　residents＇　needs,＂　this　study　proposes　strategies　for　the　regeneration　and　reutilization　of　UUS　from　four　perspectives:　functional　layout,　functional　diversity,　management　units,　and　multi-stakeholder　implementation　frameworks.　These　strategies　aim　to　provide　planning　and　decision-making　support　for　advancing　neighborhood　renewal　and　urban　diagnostic　evaluations.