The purpose of this study was to investigate the effect of arousal seeking on psychological well-being of university students in physical education class. The participants of this study were 180(112 male, 68 female). They also were completed questionnaires to assess their perceptions of arousal seeking and psychological well-being. A series of data analysis such as descriptive analysis, factor analysis, reliability analysis, correlation analysis, and multiple regress analysis were conducted using SPSS18.0 program. As a results, male had higher score in the arousal seeking and psychological well-being than female. The results of multiple regress analysis indicated that novelty seeking factor had an positive effect on both hedonic and eudaimonic well-being. Also, the thrill seeking factor had an positive effect on hedonic well-being, and had an negative effect on eudaimonic well-being.