An apparatus and method for endovascular removal of a cardiac valve having at least two valve cusps is disclosed. The apparatus is insertable through a blood vessel to access the cardiac valve. The apparatus includes a first catheter assembly for insertion into a blood vessel, deployable cutting means for cutting at least one valve cusp of the cardiac valve, and a deployable filter assembly disposed adjacent the distal end of the first catheter assembly. The first catheter assembly has a longitudinal axis and a distal end. The cutting means is attached to the distal end of the first catheter assembly. The filter assembly is operable to collect the severed valve cusps and is collapsible for removal from the blood vessel with the severed valve cusps retained therein.