Psychological well-being is an important aspect of life quality for older adults. Asian elders may have a distinctly different perspective from Westerners concerning the meaning of psychological well-being. Using qualitative research methods, this study focused on the views of Thai elders. In-depth interviews and focus group discussions were conducted with 67 Thai people aged 60 and over. Transcripts were content analyzed resulting in the identification of five dimensions of well-being: harmony, interdependence, acceptance, respect and enjoyment. When compared to research in the United States, some of the dimensions of psychological well-being were distinct while others were overlapping. Implications are discussed in relation to the development of culturally-relevant measures of well-being.