Recovery Colleges are mental health education centres co‐produced by experts with lived experience with mental health problems and mental health professionals. The aim of the study was to evaluate the impact of a Recovery College in Switzerland on its students' mental health measured through personal recovery, well‐being and self‐stigmatisation in a mixed methods approach following the MMARS guideline. Three standardised questionnaires ‘Questionnaire about the Process of Recovery’, ‘WHO‐5 Well‐Being Index’ and ‘Self‐Stigma of Mental Illness Scale Short Form’ were completed by 92 participants as part of a pre‐post‐evaluation while two focus groups (n = 10) provided further explanations regarding impacts on the three topics. Statistical analyses include paired sample t‐test or Wilcoxon signed rank tests for pre‐post‐test comparisons as well as Cohen's d to determine effect sizes. For all three questionnaires, significant improvement was shown in the desired direction with low to medium effect sizes. A higher number of courses attended did not result in higher scores in the outcome measurements. The qualitative analysis confirmed these results by providing insights of specific aspects of these positive impacts. These include increased social inclusion, improvement in attitudes towards one's life and identity, increased engagement in hobbies and healthy behaviours, positive impacts on well‐being and decreased self‐stigmatisation. The findings indicate that Recovery Colleges should be made available continuously and further developed also in other regions of Switzerland. Similar projects require continuous evaluation in early development to ensure effectiveness and improve quality.