With the rapid development of location based on service (LBS), factors influencing the use of LBS and its cognitive process catch the wide attention of scholars. Based on justice theory and value-based adoption model, this paper builds a cognitive process model of users’ willingness to use LBS. Our hypotheses are tested with the data of 264 samples. The results show that personalization, interaction, perceived usefulness and perceived entertainment are all positively related to privacy concern. What’s more, privacy control and privacy policy of LBS have negative correlations with users’ privacy concern. Meanwhile, users’ perceived usefulness and perceived entertainment could increase users’ perceived value so that users are more willing to use LBS, while the decrease of users’ privacy concern would impair their perceived value, which leads to users’ intention to LBS.