The publication addresses the issue of educational leadership, particularly value-based leadership, which can respond to today's VUCA environment. A critical analysis of the literature and survey research was conducted. A model of educational leadership was proposed that takes into account the basic elements that build the foundation of educational leadership: competencies, values, vision and influence relationships. It was established that in such a challenging environment as the volatile, unstable VUCA environment, values become the foundation, the backbone on which the younger generation can build. Generation Z expects their leader to be guided by values in life. They expect him or her to be a witness to values, a witness to values, not just a preacher of values. The research also resulted in a hierarchy of characteristics/values of the ideal educational leader as determined by Generation Z. The research further showed that the values from the canon of the Greek triad, i.e.: goodness, truth and beauty, are still crucial in the consciousness of the young generation without becoming obsolete. Keywords: educational leadership, leader competencies, values, leadership paradigm, VUCA environment, Generation Z