Terms such as well-being, quality of life and life project are part of our daily life and are becoming increasingly important in research contexts, due to their implications in the current world in which we live. However, their conceptual definition deserves considerable precision and clarification for their understanding and recognition. The objective of this article is to analyze the conceptualization of psychosocial well-being, initially from its etymological roots. Then, a historical review is made on the conceptions of well-being from its beginnings in ancient cultures, its conceptualization in the psychological traditions of Hedonism and Eudemonism, until it became a strategic approach with multiple dimensions. Its implications in the educational field are also analyzed: learning and life projects. This article analyzes from different points of view the meanings and theories on well-being, so methodologically the documentary analysis was used to reach a broader understanding of the concept, the main theoretical premises on its psychological and social foundations were identified to form the construct. As a conclusion of this analysis, psychosocial well-being is an inseparable concept and will surely persist as a strategic approach that merits the need for further research studies that recognize its complex, multidimensional and transversal nature, by situating it in social, educational and personal contexts. Finally, the premise of building psychosocial well-being programs and policies as an integral learning tool in the agendas of nation-states and organized civil society is justified.