Psychological wellbeing is a current relevant area of study, because of the importance of its approach both individually and socially, even more when it has been related to happiness, quality of life and mental health. This can be identified clearly in the differentiation of hedonistic and eudemonic perspectives; and they captivate the interest of researchers worldwide and in Latin America, asking questions such as: why talk about psychological well-being in educational processes? It is clear that the educational process does not only involve cognitive processes, but also has to do with: self-acceptance, psychosocial links, life projects and affects, amongst others, which are an integral part of the concept of psychological well-being. Thus, the present study seeks to make an interpretation of the research regarding the psychological wellbeing in an Educational Context in Latin America. The methodology is qualitative, interpretive documentary type, the unit of work is made up of 319 documents among are: reports, books, articles, doctoral theses and policies; as an instrument we have the bibliographic and analytical content matrix. The most important results: a) to recognize that the research carried out on the topic considers that psychological well-being is directly related to academic performance, b) it is determined that the approach given to the subject of psychological well-being, is made from European or North American sources of study and c) the importance, demonstrated by many studies of society, community and family support in the understanding of psychological well-being in Latin American populations has reduced.