This study aims to develop standard indicators and methodology for college & university libraries'evaluation based on the agreement among various stake-holders, then suggests a new evaluation system. For the goal, we identify purposes and required conditions, then develop indicators for the evaluation through open-ended interviews, a questionnaire survey, and focus group for reaching an agreement on the included indicators among the stake-holders, finally we construct the overall evaluation structure and weighting system. The overall structure is developed based on process-centered approach, then both the internal and functional viewpoint and external and service-oriented viewpoint are considered. The weighting system is based on the balance among the process categories, such as resources, process, and output elements. Additionally, we suggest methodology for the evaluation and annual improvement process for ongoing improvement of the evaluation system. We expect that the results from this study will contribute not only to the evaluation activities but also to active discussions on library performance and its predictor factors.