The aim of this research is to determine the relationship between psychological capital, psychological well-being and job satisfaction of teachers. The research is a descriptive study in relational screening model. The research model includes three variables; one independent variable (psychological capital) and other two dependent variables (job satisfaction and psychological well-being). In the structural model, job satisfaction variable may also be expressed as mediator variable. The study population consists of 12714 teachers working in official secondary schools in seven central districts in Ankara Province in 2017-2018 academic year. Sample of the population is selected by multi-stage sampling method. Stratified sampling method is used in the first stage and simple random sampling method is used in the second stage. Sample size is calculated as at least 384 teachers. In the research, Psychological Capital Scale developed by Luthans, Youssef & Avolio (2007b); Minnesota Satisfaction Questionnaire developed by Weiss, Dawis, Lofquist & England (1967) and Psychological Well-Being Scale developed by Ryff (1989) were used as data collection tools. Scales which are pre-implemented within the scope of the research yielded valid and reliable results. Data analysis was done with SPSS 23.0 and LISREL 8.87 statistics software packages. According to the results obtained from the research, it was determined that teachers' psychological capital perception was "good" and their job satisfaction and psychological well-being are "high". According to the results of the analysis by means of structural equality modelling, it was determined that teachers' psychological capital perception affects their job satisfaction and psychological well-being levels positively and predicts them significantly; and it was also determined that job satisfaction has a partial mediator role in the relationship between teachers' psychological capital perception and their psychological well-being.