Since cloud computing is an emergent technology in the IT industry, it is worth of discovering its process of value realization. This paper proposes a cloud computing value creation model that is based on the theoretical foundation of cost economies, resource-based theory, competitive advantage, value chain theory, and economies of scale. These theories support the innovative application of cloud computing in the IT industry. The IT industry observed the needs and opportunities of cost reduction, resourcing sharing, value creation and economies of scale that exist in the marketplace; therefore, cloud computing has been formed and developed. However, cloud computing technology needs to go through a few steps to create its value. Based on the above discussion, a cloud computing value creation model may possess a four-step process, including awareness, translation, comprehension, and cloud computingvaluecreation. The final objective of implementing cloud computing is to reach a sustainable cloud computing technology. The details of this model are discussed in the next section.