Future work self is a promising concept to understand how young people view and plan their careers in the contemporary workplace. In this study, we attempt to investigate its impacts on two career-related outcomes, namely, perceived employability and career distress. Informed by social cognitive career theory, we also explore the mediating role of career decision self-efficacy in the above relationships. Several hypotheses were developed and tested with a sample of 208 final-year undergraduate students (with a mean age of 21.5 and 145 of them are female) in China. The results of structural equation modeling and bootstrapping indicated that future work self has a positive relationship with perceived employability and a negative relationship with career distress, while these relationships are found to be mediated by career decision self-efficacy. Our study has advanced our understanding about how future work self contributes to career-related well-being among Chinese students.