diff --git a/pandas/core/frame.py b/pandas/core/frame.py
index 7c7872cf7b6a5..6cb64c2a5761e 100644
--- a/pandas/core/frame.py
+++ b/pandas/core/frame.py
@@ -698,7 +698,7 @@ def to_dict(self, orient='dict'):
         if orient.lower().startswith('d'):
             return dict((k, v.to_dict()) for k, v in compat.iteritems(self))
         elif orient.lower().startswith('l'):
-            return dict((k, v.tolist()) for k, v in compat.iteritems(self))
+            return dict((k, v.values.tolist()) for k, v in compat.iteritems(self))
         elif orient.lower().startswith('sp'):
             return {'index': self.index.tolist(),
                     'columns': self.columns.tolist(),