Abstract: A valet key distribution system distributes key information of a vehicle among the vehicle, an owner terminal, and a guest terminal. The vehicle includes a vehicle-side storage storing a vehicle-side owner private key, a vehicle-side distribution key, a vehicle-side variable value, and a vehicle-side one-time password; and a vehicle-side controller controlling running of the vehicle and performing information processing. The owner terminal includes an owner-terminal input unit receiving an operation instruction from a utilization manager of the vehicle; an owner-side storage storing a terminal-side owner private key, a terminal-side distribution key, a terminal-side variable value, and a terminal-side one-time password; and an owner-side controller performing information processing.