Full edition for scientific use. The COVID-19 pandemic has led to various Online-Panel studies to study the social effects of the crisis. The Values in Crisis study stands out in three central aspects. First, it offers a differentiated perspective to study how basic values of Austrian citizens change during times of crises. Second, the VIC study is a global survey project (see https://doi.org/10.11587/LIHK1L) which enables to compare the effects of the pandemic in Austria with other countries in Europe and beyond. Third, the study represents a comparative longitudinal study, measuring the effects of the pandemic in three survey waves called “inmidst the crisis”, “end at sight” and “overcoming the pandemic”. This new dataset “Values in Crisis Austria – Wave 1 and Wave 2 combined” represents the Austrian data of the first wave (May 2020) and second wave (March/April 2021) combined. It is possible to analyse the data of the two waves separately or to conduct longitudinal analysis (based on n = 1222 respondents taking part in both surveys).The study investigates basic values (measured with classical value concepts such as the Inglehart Index and the short Portraits Values Questionnaire by Shalom Schwartz) as well as the exposure to the crisis, attitudes towards politics and perceptions on public health and social and economic consequences of the pandemic. Besides the international master-questionnaire we included in the second wave of the survey various Austrian specific questions about attitudes towards public restrictions, towards social distancing or Austrian views of a post-corona society.