This study examines the predictive role of meaning in life and gender-specific differences on psychological well-being of 226 Spanish undergraduates (87 men, 38.5%; 139 women, 61.5%) ranging in age from 17 to 25 years, M = 21.08, SD = 2.18. Measures included both the Spanish adaptations of the Crumbaugh and Maholic's Purpose-In -Life Test and the Ryff's Scales of Psychological Well-Being. The hypothesis stated that meaning in life would predict psychological well-being and that women would reach a higher score in several dimensions of psychological well-being. Statistical analysis included simple linear regressions, and a t-test. Results showed that: (1) meaning in life was a significant predictor variable of psychological well-being, especially of global psychological well-being, self-acceptance, purpose in life, and environmental mastery; and (2) women reached a higher score, statistically significant, in global psychological well-being, environmental mastery, personal growth and purpose in life. Findings were discussed in the light of previous researches.