Introduction: The daily life problems of patients with schizophrenia as well as their symptoms are challenging sit- uations that may interfere with their psychological well-being. The purpose of this study is to investigate the factors affecting the psychological well-being of patients with schizophrenia and factors affecting it. Methods: A cross sec- tional study was conducted to examine the socio-demographic factors, health level, social support and self-esteem of patients with schizophrenia. A total of 255 respondents consisting of patients on follow-up from specialist clinics at three Psychiatric Hospitals in this country were selected to answer the questionnaire. The questionnaires used were the Affect Balance Scale, the Multidimensional Scale of Perceived Social Support Scale and the Rosenberg Self-Esteem Scale for the measurement of the psychological well-being, social support and self-esteem respectively. The data was analysed using Chi-Square and Mann-Whitney U test. Results: A total of 62% of the respondents had positive psychological wellbeing. Socio demographic factors, namely occupation (p=0.007), overall social support (p=0.023), family support (p=0.040), significant others’ support (p=0.046), and self-esteem (p < 0.001), were associ- ated with positive psychological well-being. Conclusion: This study has proven that patients with schizophrenia who regularly received treatment can achieve positive psychological well-being when they have high self-esteem, strong support from their family members as well as people around them and are stable occupation.