Urban regeneration provides an opportunity for the development of sustainable settlements. However, it is important to emphasize that unless there are observable criteria, the target of implementing statements of national vision and strategies considering both sustainability and urban regeneration is not fully accomplished. The main aim of the present study was to propose indicators for sustainable urban regeneration and potential policy instruments. Following a review of the literature, the 2 parallel processes-establishment of sustainability and urban regeneration-were combined in a conceptual framework that includes criteria regarding the 3 pillars of sustainability under certain themes. The importance of the study lies in the proposal of indicators for sustainable urban conservation and policy instruments that may be developed in further studies, with the intention of introducing legislation regarding these issues.