<?xml version="1.0" encoding="UTF-8"?>
<edgarSubmission xmlns="http://www.sec.gov/edgar/npx" xmlns:com="http://www.sec.gov/edgar/common">
  <headerData>
    <submissionType>N-PX</submissionType>
    <filerInfo>
      <registrantType>IM</registrantType>
      <liveTestFlag>LIVE</liveTestFlag>
      <filer>
        <issuerCredentials>
          <cik>0002056021</cik>
          <ccc>XXXXXXXX</ccc>
          <!--Field: Pseudo-Tag; ID: Name; Data:-->
        </issuerCredentials>
      </filer>
      <flags>
        <overrideInternetFlag>false</overrideInternetFlag>
        <confirmingCopyFlag>false</confirmingCopyFlag>
      </flags>
      <periodOfReport>06/30/2026</periodOfReport>
    </filerInfo>
  </headerData>
  <formData>
    <coverPage>
      <yearOrQuarter>YEAR</yearOrQuarter>
      <reportCalendarYear>2026</reportCalendarYear>
      <reportingPerson>
        <name>Value Base Fund Management Ltd.</name>
        <phoneNumber>972-3-622-3381</phoneNumber>
        <address>
          <com:street1>23 Yehuda Halevi St.</com:street1>
          <com:street2>27th Floor, Discount Bank Tower</com:street2>
          <com:city>Tel Aviv</com:city>
          <com:stateOrCountry>L3</com:stateOrCountry>
          <com:zipCode>6513601</com:zipCode>
        </address>
      </reportingPerson>
      <reportInfo>
        <reportType>INSTITUTIONAL MANAGER NOTICE REPORT</reportType>
        <noticeExplanation>ALL VOTES BY OTHER PERSONS</noticeExplanation>
        <confidentialTreatment>N</confidentialTreatment>
      </reportInfo>
      <fileNumber>028-24902</fileNumber>
      <otherManagersInfo>
        <otherManager>
          <icaOr13FFileNumber>028-24903</icaOr13FFileNumber>
          <managerName>Value Base Ltd.</managerName>
        </otherManager>
      </otherManagersInfo>
      <explanatoryInformation>
        <explanatoryChoice>Y</explanatoryChoice>
        <explanatoryNotes>Value Base Fund Management Ltd. (the "Management Company") exercise investment discretion with regard to the securities reported herein. The Management Company has been delegated management responsibilities by Value Base Fund General Partner Ltd. ("VBF General Partner"), which serves as general partner of the private investment fund Value Base Fund Limited Partnership, a Cayman Islands limited partnership. Each of the VBF General Partner and the Management Company is an Israel private company controlled by Value Base Ltd., which directly and indirectly holds a majority of the shares of each such company. Value Base Ltd., an Israeli company, is controlled by Messrs. Victor Shamrich and Ido Nouberger. This Form N-PX shall not be construed as an admission by Value Base Ltd. or any of its subsidiaries that it is the beneficial owner of any of the securities covered by this Form N-PX, and each of Value Base Ltd. and its subsidiaries disclaims beneficial ownership of any such securities except to the extent of their pecuniary interest therein. Per informal guidance received from the Division of Investment Management, section 13(f) securities that are dual listed on a U.S. stock exchange and a non-U.S. stock exchange are included in this Form N-PX only if they were purchased in the U.S.</explanatoryNotes>
      </explanatoryInformation>
    </coverPage>
    <signaturePage>
      <reportingPerson>Value Base Fund Management Ltd.</reportingPerson>
      <txSignature>Ido Nouberger</txSignature>
      <txPrintedSignature>Ido Nouberger</txPrintedSignature>
      <txTitle>Director</txTitle>
      <txAsOfDate>07/29/2026</txAsOfDate>
      <secondaryRecords>
        <secondaryRecord>
          <txSignature>Victor Shamrich</txSignature>
          <printedSign>Victor Shamrich</printedSign>
          <txTitle>Director</txTitle>
          <txAsOfDate>07/29/2026</txAsOfDate>
        </secondaryRecord>
      </secondaryRecords>
    </signaturePage>
  </formData>
</edgarSubmission>
