Self-stigma is a phenomenon in which negative public stereotypes about mental illness are internalized and can undermine help-seeking. Unfortunately, little is known about how self-stigmatization relates to positive well-being indicators among youth. A sample of 134 high school students completed established measures of self-stigma, well-being, self-esteem, self-efficacy, and self-criticism. Analyses confirmed that self-stigma was associated with overall well-being and five well-being subscales (autonomy, environmental mastery, personal growth, positive relations, and self-acceptance); the strongest associations were with autonomy and positive relations with others. The majority of these associations still held when simultaneously controlling for self-esteem, self-efficacy, and self-criticism. Taken together, findings point to the need for greater awareness of self-stigma along with an explicit focus on the promotion of protective well-being in prevention work and interventions designed to alleviate the tendency for young people to internalize stigma. Additionally, findings have theoretical implications for the "why try" model of self-stigma.