It is widely acknowledged that the destruction of archaeological sites, illegal removal and trade in antiquities leads to the impoverishment of the archaeological heritage, causing not only damage from the cultural heritage conservation and exploration perspective, but also a range of socio-economic losses. Considering social, cultural significance and multiple uses of the heritage, it is difficult to make an accurate monetary valuation of it even at the local level. There is also a view that heritage objects are priceless from cultural and historical perspective. If so, what are the criteria for assessing damage to archaeological heritage caused by unauthorized/illegal activities and how justified is calculation of such damage in the relevant civil, administrative and criminal proceedings? From an economic perspective, archaeological heritage has an asset value, so it is important to know it’s actual and potential socio-economic impact and the range of social interests involved in its use to justify and ensure its effective protection, maintenance and sustainable use. The basic solution for defining the value criteria of the heritage and assessing the damage to it seems to be related to identification of the spectrum of socio-economic interests in its use ("consumption"). Within the context of development and well-being of society, exploitation of archaeological heritage is closely linked to cultural, social, economic and environmental dimensions of sustainable development. Therefore, there is a growing debate about development of an interdisciplinary approach both to identifying and developing the opportunities presented by this heritage and to identifying and mitigating its threats. Thus, by analyzing the situation in Latvia and other countries and based on the findings of archaeological science, integrated socio-economic and legal approach will be utilized in the presentation, providing both theoretical and practical insights into the challenges and possible solutions for assessing the damage to archaeological heritage caused by unauthorized activities.