This study examined relations between feminist identity development, gender‐role orientation, and psychological well‐being in 244 women of varying ages and backgrounds. As hypothesized, both feminist identity development and gender‐role orientation contributed independently to the explanation of variance in psychological well‐being. Instrumentality, expressiveness, and a more developed feminist identity were all related positively to psychological well‐being. In addition, instrumentality and a more developed feminist identity were correlated positively. Implications of these findings as well as limitations and future directions are discussed.