This study explores the effects of ethical issue-self identification on purchase intention and willingness to pay price premium for ethical products and the moderating role of self-monitoring. This research expects that the higher the level of the ethical issue-self identification, the higher the consumer’s purchase intention and willingness to pay price premium for ethical products. Additionally, This study assumes the interaction effects of the level of ethical issue-self identification (high vs. low) and self-monitoring (high vs. low) on the purchase intention and willingness to pay price premium for ethical products of the consumers. As expected, the result shows that the group with high ethical issue-self identification has higher purchase intention and willingness to pay price premium for ethical products than it lower counterpart. Furthermore, The interaction effect of ethical issue-self identification and self-monitoring on purchase intention and willingness to pay price premium for ethical products be found. Specifically, when the level of self-monitoring is high, the group with high ethical issue-self identification has significantly higher purchase intention and willingness to pay price premium compared to the group with low ethical issue-self identification. On the other hand, when the level of self-monitoring is low, there is no difference between two groups. This study suggests that ethical issue-self identification is an important factor in ethical consumption and offers empirical marketing implication to increase ethical consumption.