Emerging adults build their personal maturity within the family context; however, few studies focus on the role of emotional autonomy during this stage. The aim of this study was to analyze the relationship between emotional autonomy and adjustment during emerging adulthood, bearing in mind the possible moderating role of parental support in this relationship. Data were collected from 1,502 Spanish undergraduate students (903 women) aged between 18 and 29. Participants completed measures of emotional autonomy (EAS, Steinberg & Silverberg, 1986), family social support (MSPSS; Zimet, Dahlem, Zimet & Farley, 1988), psychological well‐being (PWBS; Ryff, Lee, Essex & Schmutte, 1995) and psychological distress (DASS‐21; Lovibond & Lovibond, 1995). The results indicate that emotional autonomy correlates negatively with family support and psychological well‐being and positively with psychological distress. However, only when young people perceive a family context with low social support is gaining emotional distance from their parents associated with an increase in their psychological well‐being. Our findings highlight the crucial role that the family environment plays in well‐being during young adulthood, and reveal that the effect of emotional distancing from parents on adjustment depends on the quality of the family climate. Future research should seek to gain greater insight into emotional autonomy during emerging adulthood, taking into account cross‐cultural diversity.