Methods, systems, and computer readable media for generating test packets in a network device using value lists caching are disclosed. In one method, value lists are stored in dynamic random access memory of a network test device. Each value lists includes values for user defined fields (UDFs) to be inserted in test packets. Portions of each value lists are read into per-port caches. The UDF values are drained from the per-port caches using per-port stream engines to generate and send streams of test packets to one or more devices under test. The per-port caches are refilled with portions of the value lists from the DRAM and a rate sufficient to maintain the sending of the stream engine packets to the one or more devices under test.