The present study took into account the influence of local cuisine in the restaurants awarded Michelin stars in Phuket Old Town, influenced by Chinese cultural diffusion to other cultures contributing to a unique culture in the Malay Peninsula. It sought to investigate components of local gastronomic tourism and perceived value towards the Michelin Guide’s assessment criteria of local cuisine in Phuket Old Town, delving into the relationship between these two factors. In particular, a structural equation model (SEM) was adopted to explore such a relationship, with an exploratory factor analysis (EFA) and a confirmatory factory analysis (CFA) to assess a measurement model of latent variables and accuracy and reliability of the structure. The study was conducted in the context of Phuket Old Town, Phuket Province, Thailand, renowned as a City of Gastronomy. The results demonstrated that the phenomenon of local cuisine in Phuket Old Town embodied the perceived value of local cuisine, origins, history, traditions, rituals, and unique lifestyles; particularly, the components of local gastronomic tourism reflected the significance of food products in the food industry, together with the organization of local cuisine activities and festivals. This finding contributed to an understanding of the reasons behind the perceived value among consumers traveling to this town to gain experiences of local cuisine in the restaurants awarded with Michelin stars. It could serve as a policy for improving food establishments’ quality and standards based on the specified criteria to foster sustainable gastronomic tourism in Thailand.