Economic appraisal is an established practice in transport planning. However, the health effects of transport interventions are rarely taken into account in such analyses. This project had two aims: to review recent approaches to cost–benefit analysis of transport-related physical activity; and to develop guidance on approaches to including the health effects of transport-related physical activity in economic analyses of transport infrastructure and policies. Since calculating the costs of interventions is usually not very complicated, the project focused on approaches to the economic valuation of potential health effects. The result is primarily intended to be integrated into comprehensive economic analyses of transport interventions or infrastructure projects, but can also serve to assess the current situation or investments made in the past.