Social well-being is one of three components of the World Health Organization’s definition of health. Yet, little is known about social well-being among people living with HIV (human immunodeficiency virus), particularly Black sexual minority men living with HIV. Extant research suggests both intrapsychic (e.g., identity integration, internalized stigma) and interpersonal (e.g., community connectedness) factors may influence social well-being. In this study, we utilize data gathered from Black sexual minority men living with HIV residing in Los Angeles County (N = 102) to identify factors associated with social well-being in this population. We also tested two mediation models wherein the significant relationship between internalized homophobia and social well-being detected in our sample is mediated by LGBT (lesbian, gay, bisexual, and transgender) community connectedness and racial, gender, and sexual identity integration. Greater social well-being was associated with lower internalized homophobia, higher LGBT community connectedness, and a greater sense of racial, gender, and sexual identity integration (p < .01 for all). Mediation analyses revealed that LGBT community connectedness and identity integration fully mediated the effect of internalized homophobia on social well-being (p < .01 for both), adjusting for sociodemographic characteristics. Our results suggest (a) efforts to reduce internalized homophobia may increase social well-being among Black sexual minority men living with HIV and (b) promoting identity integration and interpersonal connection may be useful approaches to foster social well-being among members of this population who experience internalized homophobia. Future research could attempt to replicate these results from our cross-sectional study using a longitudinal study design and with data gathered from participants in other (e.g., rural) contexts.