With the advent of the era of knowledge economy, colleges and universities have became an important driving force for social development and play an irreplaceable role in building regional innovation system. From the perspective of intellectual capital, European scholars divide the "third mission" objective into technology transfer and innovation, continuing education and social participation, and divide it into three aspects:human capital, organizational capital and social capital. Based on the reference of third mission measurement framework to Europe, this paper classifies the value creation processes of social service activities of colleges and universities, to find the preferences of measurement in colleges of our country. Then this paper sets up the social service measurement framework which is suitable for China's policy context, it can better formulate strategic plans for universities.