diff --git a/CHANGELOG.md b/CHANGELOG.md
index 0db3cf6ce6f..7251704c249 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -25,6 +25,10 @@ This project adheres to [Semantic Versioning](https://semver.org/spec/v2.0.0.htm
 - The `go.opentelemetry.io/otel/exporters/stdout/stdoutlog` exporter won't print `AttributeValueLengthLimit` and `AttributeCountLimit` fields now, instead it prints the `DroppedAttributes` field. (#5272)
 - Improved performance in the `Stringer` implementation of `go.opentelemetry.io/otel/baggage.Member` by reducing the number of allocations. (#5286)
 
+### Fixed
+
+- Fix the empty output of `go.opentelemetry.io/otel/log.Value` in `go.opentelemetry.io/otel/exporters/stdout/stdoutlog`. (#5311)
+
 ## [1.26.0/0.48.0/0.2.0-alpha] 2024-04-24
 
 ### Added
diff --git a/exporters/stdout/stdoutlog/exporter_test.go b/exporters/stdout/stdoutlog/exporter_test.go
index 606fba40b3f..659f7f462d7 100644
--- a/exporters/stdout/stdoutlog/exporter_test.go
+++ b/exporters/stdout/stdoutlog/exporter_test.go
@@ -183,7 +183,7 @@ func getJSON(now *time.Time) string {
 		timestamps = "\"Timestamp\":" + string(serializedNow) + ",\"ObservedTimestamp\":" + string(serializedNow) + ","
 	}
 
-	return "{" + timestamps + "\"Severity\":9,\"SeverityText\":\"INFO\",\"Body\":{},\"Attributes\":[{\"Key\":\"key\",\"Value\":{}},{\"Key\":\"key2\",\"Value\":{}},{\"Key\":\"key3\",\"Value\":{}},{\"Key\":\"key4\",\"Value\":{}},{\"Key\":\"key5\",\"Value\":{}},{\"Key\":\"bool\",\"Value\":{}}],\"TraceID\":\"0102030405060708090a0b0c0d0e0f10\",\"SpanID\":\"0102030405060708\",\"TraceFlags\":\"01\",\"Resource\":[{\"Key\":\"foo\",\"Value\":{\"Type\":\"STRING\",\"Value\":\"bar\"}}],\"Scope\":{\"Name\":\"name\",\"Version\":\"version\",\"SchemaURL\":\"https://example.com/custom-schema\"},\"DroppedAttributes\":10}\n"
+	return "{" + timestamps + "\"Severity\":9,\"SeverityText\":\"INFO\",\"Body\":{\"Type\":\"String\",\"Value\":\"test\"},\"Attributes\":[{\"Key\":\"key\",\"Value\":{\"Type\":\"String\",\"Value\":\"value\"}},{\"Key\":\"key2\",\"Value\":{\"Type\":\"String\",\"Value\":\"value\"}},{\"Key\":\"key3\",\"Value\":{\"Type\":\"String\",\"Value\":\"value\"}},{\"Key\":\"key4\",\"Value\":{\"Type\":\"String\",\"Value\":\"value\"}},{\"Key\":\"key5\",\"Value\":{\"Type\":\"String\",\"Value\":\"value\"}},{\"Key\":\"bool\",\"Value\":{\"Type\":\"Bool\",\"Value\":true}}],\"TraceID\":\"0102030405060708090a0b0c0d0e0f10\",\"SpanID\":\"0102030405060708\",\"TraceFlags\":\"01\",\"Resource\":[{\"Key\":\"foo\",\"Value\":{\"Type\":\"STRING\",\"Value\":\"bar\"}}],\"Scope\":{\"Name\":\"name\",\"Version\":\"version\",\"SchemaURL\":\"https://example.com/custom-schema\"},\"DroppedAttributes\":10}\n"
 }
 
 func getJSONs(now *time.Time) string {
@@ -200,31 +200,52 @@ func getPrettyJSON(now *time.Time) string {
 	return `{` + timestamps + `
 	"Severity": 9,
 	"SeverityText": "INFO",
-	"Body": {},
+	"Body": {
+		"Type": "String",
+		"Value": "test"
+	},
 	"Attributes": [
 		{
 			"Key": "key",
-			"Value": {}
+			"Value": {
+				"Type": "String",
+				"Value": "value"
+			}
 		},
 		{
 			"Key": "key2",
-			"Value": {}
+			"Value": {
+				"Type": "String",
+				"Value": "value"
+			}
 		},
 		{
 			"Key": "key3",
-			"Value": {}
+			"Value": {
+				"Type": "String",
+				"Value": "value"
+			}
 		},
 		{
 			"Key": "key4",
-			"Value": {}
+			"Value": {
+				"Type": "String",
+				"Value": "value"
+			}
 		},
 		{
 			"Key": "key5",
-			"Value": {}
+			"Value": {
+				"Type": "String",
+				"Value": "value"
+			}
 		},
 		{
 			"Key": "bool",
-			"Value": {}
+			"Value": {
+				"Type": "Bool",
+				"Value": true
+			}
 		}
 	],
 	"TraceID": "0102030405060708090a0b0c0d0e0f10",
@@ -344,3 +365,84 @@ func TestExporterConcurrentSafe(t *testing.T) {
 		})
 	}
 }
+
+func TestValueMarshalJSON(t *testing.T) {
+	testCases := []struct {
+		value log.Value
+		want  string
+	}{
+		{
+			value: log.Empty("test").Value,
+			want:  `{"Type":"Empty","Value":null}`,
+		},
+		{
+			value: log.BoolValue(true),
+			want:  `{"Type":"Bool","Value":true}`,
+		},
+		{
+			value: log.Float64Value(3.14),
+			want:  `{"Type":"Float64","Value":3.14}`,
+		},
+		{
+			value: log.Int64Value(42),
+			want:  `{"Type":"Int64","Value":42}`,
+		},
+		{
+			value: log.StringValue("hello"),
+			want:  `{"Type":"String","Value":"hello"}`,
+		},
+		{
+			value: log.BytesValue([]byte{1, 2, 3}),
+			// The base64 encoding of []byte{1, 2, 3} is "AQID".
+			want: `{"Type":"Bytes","Value":"AQID"}`,
+		},
+		{
+			value: log.SliceValue(
+				log.Empty("empty").Value,
+				log.BoolValue(true),
+				log.Float64Value(2.2),
+				log.IntValue(3),
+				log.StringValue("4"),
+				log.BytesValue([]byte{5}),
+				log.SliceValue(
+					log.IntValue(6),
+					log.MapValue(
+						log.Int("seven", 7),
+					),
+				),
+				log.MapValue(
+					log.Int("nine", 9),
+				),
+			),
+			want: `{"Type":"Slice","Value":[{"Type":"Empty","Value":null},{"Type":"Bool","Value":true},{"Type":"Float64","Value":2.2},{"Type":"Int64","Value":3},{"Type":"String","Value":"4"},{"Type":"Bytes","Value":"BQ=="},{"Type":"Slice","Value":[{"Type":"Int64","Value":6},{"Type":"Map","Value":[{"Key":"seven","Value":{"Type":"Int64","Value":7}}]}]},{"Type":"Map","Value":[{"Key":"nine","Value":{"Type":"Int64","Value":9}}]}]}`,
+		},
+		{
+			value: log.MapValue(
+				log.Empty("empty"),
+				log.Bool("one", true),
+				log.Float64("two", 2.2),
+				log.Int("three", 3),
+				log.String("four", "4"),
+				log.Bytes("five", []byte{5}),
+				log.Slice("six",
+					log.IntValue(6),
+					log.MapValue(
+						log.Int("seven", 7),
+					),
+				),
+				log.Map("eight",
+					log.Int("nine", 9),
+				),
+			),
+			want: `{"Type":"Map","Value":[{"Key":"empty","Value":{"Type":"Empty","Value":null}},{"Key":"one","Value":{"Type":"Bool","Value":true}},{"Key":"two","Value":{"Type":"Float64","Value":2.2}},{"Key":"three","Value":{"Type":"Int64","Value":3}},{"Key":"four","Value":{"Type":"String","Value":"4"}},{"Key":"five","Value":{"Type":"Bytes","Value":"BQ=="}},{"Key":"six","Value":{"Type":"Slice","Value":[{"Type":"Int64","Value":6},{"Type":"Map","Value":[{"Key":"seven","Value":{"Type":"Int64","Value":7}}]}]}},{"Key":"eight","Value":{"Type":"Map","Value":[{"Key":"nine","Value":{"Type":"Int64","Value":9}}]}}]}`,
+		},
+	}
+
+	for _, tc := range testCases {
+		t.Run(tc.value.String(), func(t *testing.T) {
+			got, err := json.Marshal(value{Value: tc.value})
+			require.NoError(t, err)
+			assert.JSONEq(t, tc.want, string(got))
+		})
+	}
+}
diff --git a/exporters/stdout/stdoutlog/record.go b/exporters/stdout/stdoutlog/record.go
index 31a511dc15a..71512e23f93 100644
--- a/exporters/stdout/stdoutlog/record.go
+++ b/exporters/stdout/stdoutlog/record.go
@@ -4,6 +4,8 @@
 package stdoutlog // import "go.opentelemetry.io/otel/exporters/stdout/stdoutlog"
 
 import (
+	"encoding/json"
+	"errors"
 	"time"
 
 	"go.opentelemetry.io/otel/log"
@@ -13,14 +15,74 @@ import (
 	"go.opentelemetry.io/otel/trace"
 )
 
+func newValue(v log.Value) value {
+	return value{Value: v}
+}
+
+type value struct {
+	log.Value
+}
+
+// MarshalJSON implements a custom marshal function to encode log.Value.
+func (v value) MarshalJSON() ([]byte, error) {
+	var jsonVal struct {
+		Type  string
+		Value interface{}
+	}
+	jsonVal.Type = v.Kind().String()
+
+	switch v.Kind() {
+	case log.KindString:
+		jsonVal.Value = v.AsString()
+	case log.KindInt64:
+		jsonVal.Value = v.AsInt64()
+	case log.KindFloat64:
+		jsonVal.Value = v.AsFloat64()
+	case log.KindBool:
+		jsonVal.Value = v.AsBool()
+	case log.KindBytes:
+		jsonVal.Value = v.AsBytes()
+	case log.KindMap:
+		m := v.AsMap()
+		values := make([]keyValue, 0, len(m))
+		for _, kv := range m {
+			values = append(values, keyValue{
+				Key:   kv.Key,
+				Value: newValue(kv.Value),
+			})
+		}
+
+		jsonVal.Value = values
+	case log.KindSlice:
+		s := v.AsSlice()
+		values := make([]value, 0, len(s))
+		for _, e := range s {
+			values = append(values, newValue(e))
+		}
+
+		jsonVal.Value = values
+	case log.KindEmpty:
+		jsonVal.Value = nil
+	default:
+		return nil, errors.New("invalid Kind")
+	}
+
+	return json.Marshal(jsonVal)
+}
+
+type keyValue struct {
+	Key   string
+	Value value
+}
+
 // recordJSON is a JSON-serializable representation of a Record.
 type recordJSON struct {
 	Timestamp         *time.Time `json:",omitempty"`
 	ObservedTimestamp *time.Time `json:",omitempty"`
 	Severity          log.Severity
 	SeverityText      string
-	Body              log.Value
-	Attributes        []log.KeyValue
+	Body              value
+	Attributes        []keyValue
 	TraceID           trace.TraceID
 	SpanID            trace.SpanID
 	TraceFlags        trace.TraceFlags
@@ -34,13 +96,13 @@ func (e *Exporter) newRecordJSON(r sdklog.Record) recordJSON {
 	newRecord := recordJSON{
 		Severity:     r.Severity(),
 		SeverityText: r.SeverityText(),
-		Body:         r.Body(),
+		Body:         newValue(r.Body()),
 
 		TraceID:    r.TraceID(),
 		SpanID:     r.SpanID(),
 		TraceFlags: r.TraceFlags(),
 
-		Attributes: make([]log.KeyValue, 0, r.AttributesLen()),
+		Attributes: make([]keyValue, 0, r.AttributesLen()),
 
 		Resource: &res,
 		Scope:    r.InstrumentationScope(),
@@ -49,7 +111,10 @@ func (e *Exporter) newRecordJSON(r sdklog.Record) recordJSON {
 	}
 
 	r.WalkAttributes(func(kv log.KeyValue) bool {
-		newRecord.Attributes = append(newRecord.Attributes, kv)
+		newRecord.Attributes = append(newRecord.Attributes, keyValue{
+			Key:   kv.Key,
+			Value: newValue(kv.Value),
+		})
 		return true
 	})