The purpose of the present study is to explore the relationship between Islamic beliefs and psychological well-being among students from University of Sistan and Baluchestan, Iran. The sample size of this research consists of 300 undergraduate students (148 males and 152 females) that were selected at random and asked to complete the psychological well-being and Islamic beliefs questionnaires. The results showed that there was a significant positive correlation between Islamic beliefs and satisfaction with life, spirituality, happiness and optimism, personal growth, and total scores of well-being. But Islamic beliefs had a significant negative correlation with positive relationship with others. The results of Pearson correlation coefficient did not illustrate any significant correlation between Islamic beliefs and autonomy. The results of stepwise regression revealed that positive relationship with others accounted for 10.6% and made the largest unique contribution, satisfaction with life accounted for 10.3%, total scores of well-being accounted for 8.3%, spirituality accounted for 7.6%, happiness and optimism accounted for 6.3%, and eventually personal growth accounted for 3.3% of variance in Islamic beliefs of students. There was a significant difference between males and females on scores of satisfaction with life spirituality, happiness and optimism and total scores of well-being, male students obtained higher mean scores than female students, but female students showed higher mean scores than their male counterparts on positive relationship with the above-mentioned issues, and eventually the results did not indicate any significant differences between the two groups on personal growth and autonomy. The results showed that male students had higher mean scores than female students on Islamic believes.