Psychological well-being (PWB) is an indicator of the optimal functioning of individuals and can act as psychological capital. Studying PWB among school teachers can help identify factors that can prevent burnout, cope with stress, and effectively manage their classroom. This study analyses the relationship between PWB, mindfulness, and emotional intelligence of school teachers and examines the predictive capability of mindfulness and emotional intelligence for PWBs. This study uses a correlational research design. Participants (N=125) consist of female teachers recruited from English medium private schools in Bangalore, India, through a convenience sampling method. Data were collected using a survey consisting of a demographic information sheet, Scales of Psychological Well-Being (Ryff, 1989), Five Facets of Mindfulness Questionnaire (Baer et al., 2006), and Assessing Emotions Scale (Schutte et al., 2009). Results reveal that PWB has a strong association with mindfulness and a moderate association with emotional intelligence. The association between mindfulness and emotional intelligence is moderate. Data shows that mindfulness and emotional intelligence contributed to higher variance in PWB than only mindfulness. Thus, mindfulness and emotional intelligence may impact the PWB of school teachers and should be considered for school mental health programmes.