Fatigue safety verification of existing bridges that uses ‘‘re-calculation’’ based on codes, usually results in insufficient fatigue safety, triggering invasive interventions. Instead of “re-calculation”, Structural Health Monitoring (SHM) should be used for the assessment of the existing bridges. Monitoring systems provide data that can reduce uncertainties associated with the fatigue loading process and the structural resistance. The objective of this paper is to quantify the value of the SHM system implemented in a 60-years-old road viaduct to investigate its fatigue safety, through modeling of the fundamental decisions of performing monitoring in conjunction with its expected utility. The quantification of the conditional value of information is based on the decision tree analysis that considers the structural reliability, various decision scenarios as well as the cost-benefit assessments. This leads to a quantitative decision basis for the owner about how much time and money can be saved while the viaduct fulfills its function reliably and respects the safety requirements. The originality of this paper stands in the application of the value of information theory to an existing viaduct considering the fatigue failure of the system based on the monitoring data and the cost-benefit of monitoring method.