The present study reconceptualized the role of hedonic (pleasure) and eudaimonic (engagement) functions as well-being processes and distinguished them from well-being outcomes. Well-being outcomes encompass life satisfaction, positive affect, psychological well-being, social well-being, subjective physical health, and absence of depression, anxiety, and stress. It was hypothesized that trait emotional intelligence (EI) would mediate the relationship between well-being processes and well-being outcomes. Participants (N = 370, mean age = 27.35 years, SD = 10.01) completed measures of hedonic and eudaimonic well-being processes, trait EI, and well-being outcome indices. Path analysis using structural equation modeling showed that trait EI fully mediated the relationship between hedonic and eudaimonic processes and well-being outcomes. Results demonstrated that engagement in meaningful activities as captured by hedonic and eudaimonic well-being processes may promote well-being outcomes.