In this modern world, a significant increase in people’s wish to lead on an independent life has been a plain truth since technological advancements have gained acceleration. Hence, it is thought that searching the relation between separation/individuation and psychological well-being of people is an important problem field. The purpose of this study is to investigate the relation between well-being levels and separation/individuation levels of university students. 285 University students (female=180, male=105; 1st class=170, 2nd class=115) whose ages are in the range from 18 to26 (M=21.35, SD =2.50) participated in the study. The data obtained from the participants were analyzed through independent t-test, ANOVA, Pearson Product Moments Correlation and Multiple Regression. According to the results obtained, a significant and negative relationship was found between the psychological well-being scores of university students and their levels of separation-individuation. Besides, the psychological well-being scale was determined to predict 23% of separation-individuation. As the levels of separation-individuation of students increased, psychological well-being decreased. On the other hand, while the separation-individuation scores of the students were not significant according to the gender variable, the psychological well-being scores were significant. According to the class level variable, the scores of separation-individuation were found to be significant, while psychological well-being scores were not. The results of the study were discussed within the framework of the relevant literature and suggestions were presented to the researchers for new studies.