This study described the relations of experiential learning and psychosocial development of Taiwanese university students through the qualitative method of phenomenology. Thirty-six students, age ranged from 19 to 25 years, from three research-oriented universities in northern Taiwan were interviewed. Seven themes were delineated: (1) discovering interests and potential; (2) forming conceptual framework, stimulating thinking, and taking action; (3) accepting differences and developing empathy; (4) gaining new experiences and managing emotions; (5) practicing cooperation and communication skills and enhancing interpersonal competence; (6) rectifying mistakes and enhancing interpersonal skills; and (7) enhancing self-understanding and establishing self-identity. The findings indicated that university students have been inevitably exercising the frame of experiential learning in their psychosocial development in many aspects of life, especially on building self-identity.