This article examines the perception of travel time and evaluation of the urban commute experience. It reviews the literature on time perception in psychology, positing perceived travel time as a function of commute characteristics, journey episodes, travel environments, and expectancy. Insights from emerging behavioral economics are drawn to illuminate evaluation of the urban commute experience. The perception–evaluation correspondence presents the potential of a new research approach to travel behavior. A time perception model for evaluating urban commute experience is formulated to accommodate all the posited relationships, with possible moderations by goal attainment, economic values associated, and time urgency. Practical significance of the model is exemplified through its use in explaining mode choice, and as a guide for service planning and design.