Background: Efforts have been made to implement a more person-centred healthcare approach in several countries. The cost-effectiveness of person-centred care is to a large extent unknown, even though it has been demonstrated to decrease total healthcare costs and to be cost-effective in some settings and conditions. The objective of this study is to estimate costs, effects and the overall cost-effectiveness, of person-centred care compared to usual care, for patients with chronic heart failure and/or chronic obstructive pulmonary disease. Methods: A randomized controlled trial including patients with chronic heart failure and/or chronic obstructive pulmonary disease was conducted at Sahlgrenska University Hospital in Gothenburg, Sweden. Person-centred care was given as an add-on to usual care for 103 patients, while a control group of 118 patients received usual care. The cost-effectiveness analysis was performed from a healthcare perspective, comparing health-related quality of life to healthcare costs, over a 6-month time horizon. Results: Person-centred care was found to be more effective, i.e. improve health-related quality of life, and to result in lower healthcare costs compared to usual care. Probabilistic sensitivity analysis showed that the likelihood of person-centred care being cost effective compared to usual care is 93%, for a SEK 500,000 willingness-to-pay threshold per quality adjusted life year. Conclusion: Person-centred care dominated usual care for patients with chronic heart failure and/or chronic obstructive pulmonary disease from a healthcare perspective.