One point of intersection in ethnic and racial identity research is the conceptual attention paid to how positively youth feel about their ethnicity or race, or "positive ethnic-racial affect." This article reports results of a series of meta-analyses based on 46 studies of this dimension and psychosocial, academic, and health risk outcomes among ethnic and racial minority youth. The overall pattern of results suggests that positive ethnic-racial affect exhibited small to medium associations (r range = |0.11| to |0.37|) with depressive symptoms, positive social functioning, self-esteem, well-being, internalizing, externalizing, academic achievement, academic attitudes, and health risk outcomes. Implications for theory and research about the role of positive ethnic-racial affect among youth growing up in an increasingly diverse society are discussed. [This article was prepared as part of the Ethnic and Racial Identity in the 21st Century working group. Group members are: William E. Cross Jr., George P. Knight, Stephen M. Quintana, Eleanor Seaton, Robert M. Sellers, and Tiffany Yip.]