In this research, university students' psychological well being and self-esteem levels are investigated in terms of a number of variables. The sample in this study is composed of 382 university students. To gather the data for this study, the Subjective Information Form, Psychological Well-Being Scale and Self-Esteem Scale are used. T tests and one-way analysis of variance are used for the independent groups to determine the difference between variables when analyzing the research data. The Pearson Product-Moment Correlation Coefficient is used to find out whether there is a linear relationship between university students' psychological well-being and their self-esteem scores. The research findings are that there is a statistically significant difference in the sub dimensions of the Psychological Well-Being Scale according to the university students' genders. However, a statistically significant difference between genders is not found in the scores obtained from Self-Esteem Scale. Again, it is revealed that there is a significant difference between the university students' psychological well being and self-esteem levels in terms of their internet connection period and their participation in social clubs. In addition, it is determined that there is a positive correlation between the self-acceptance dimension of the psychological well being scale and the self-esteem scores. The results are discussed in accordance with the related literature and presents suggestions for further research. (Contains 5 tables.)