In photography, exposure value (EV) is a number that represents a combination of a camera's shutter speed and f-number, such that all combinations that yield the same exposure have the same EV (for any fixed scene luminance). Exposure value is also used to indicate an interval on the photographic exposure scale, with a difference of 1 EV corresponding to a standard power-of-2 exposure step, commonly referred to as a stop.

The EV concept was developed by the German shutter manufacturer Friedrich Deckel in the 1950s (Gebele 1958; Ray 2000, 318). Its intent was to simplify choosing among equivalent camera exposure settings by replacing combinations of shutter speed and f-number (e.g., 1/125 s at f/16) with a single number (e.g., 15). On some lenses with leaf shutters, the process was further simplified by allowing the shutter and aperture controls to be linked such that, when one was changed, the other was automatically adjusted to maintain the same exposure. This was especially helpful to beginners with limited understanding of the effects of shutter speed and aperture and the relationship between them. But it was also useful for experienced photographers who might choose a shutter speed to stop motion or an f-number for depth of field, because it allowed for faster adjustment—without the need for mental calculations—and reduced the chance of error when making the adjustment.