Sport can be an effective means of transmitting values and fostering coexistence in environments inhabited by different cultural identities. However, it can also have an adverse effect when approaches that exacerbate rivalries are employed. Therefore, it is relevant to study the values linked to sport in contexts that are culturally diverse. The aim of this research carried out in Chile was to characterise the values linked to the practice of physical and sporting activities among Chilean students and Latin American immigrants who belong to vulnerable educational centres. For this, under a quantitative approach, a descriptive, cross-sectional, collective case study was carried out. For data collection, an ad-hoc questionnaire designed for the research was applied. The sample consisted of 412 students aged 12 to 18 years (15.87±2.03 years; 23.8% are foreigners and 76.2% are Chilean) from different macro-zones of the country belonging to three vulnerable educational centres. The results show that Chilean and immigrant students present similar results in the four dimensions analysed (status, morale, competence and enjoyment of practice). However, foreigners have higher averages in most of them, except for «status» where Chileans have a higher average. When separating immigrant students into those from «neighbouring» and «non-neighbouring» countries, it is observed that the latter have greater differences (in means) with Chileans in all dimensions, a fact that may be related to cultural reasons.