Open science initiatives, which are often collaborative efforts focused on making research more transparent, have experienced increasing popularity in the past decade. Open science principles of openness and transparency provide opportunities to advance diversity, justice, and sustainability by promoting diverse, just, and sustainable outcomes among both undergraduate and senior researchers. We review models that demonstrate the importance of greater diversity, justice, and sustainability in psychological science before describing how open science initiatives promote these values. Open science initiatives also promote diversity, justice, and sustainability through increased levels of inclusion and access, equitable distribution of opportunities and dissemination of knowledge, and increased sustainability stemming from increased generalizability. In order to provide an application of the concepts discussed, we offer a set of diversity, justice, and sustainability lens questions for individuals to use while assessing research projects and other organizational systems and consider concrete classroom applications for these initiatives.