The purpose of this study was to provide a methodological framework for the first estimates of the total carbon storage and its economic valuation in the mangrove forests of Everglades National Park (ENP), Florida. The total carbon storage in the ENP mangroves is estimated to be 7,144 Mg C/ha, much higher than tropical, boreal and temperate forests. The final selection of carbon prices for the valuation was based on the social, economic and political milieu of the study site, the biological attributes influencing the quantity and quality of carbon storage, and the status of the ENP mangroves as a protected area. The carbon storage in ENP mangroves is estimated at $50,000/ha and $614,000/ha based on the U.S. market price and social cost of carbon, respectively. The study also estimates the change in the economic value of the carbon stock in ENP mangroves in response to different scenarios of sea level rise.