Software, once developed, has a long life and evolves through numerous additions and modifications because of the faults, the changes in user requirements, the changes in environments, and so forth. With the evolution of the software, assuring the quality of the software is getting more difficult because of numerous versions of the software. Meanwhile, regression testing has been used to support the software testing activities and assure acquiring appropriate quality through several versions of software. Regression testing, however, is too expensive because it requires lots of test cases executions and the number of test cases increases sharply as the software evolves. For this reason, several techniques are suggested to help conducting regression testing then test case prioritization technique is understood the most effective and efficient technique to support regression testing. In this paper, we propose an approach, Historical Value-Based Approach, which is based on the use of historical information to estimate the current cost and fault severity for cost-cognizant test case prioritization. As a result of the proposed approach, software testers who perform regression testing prioritize their test cases more effectively so that the test effectiveness of them can be improved in terms of APFDc.