We systematically review social entrepreneurship literature to analyse how the notion of well-being is perceived. We found that well-being in social entrepreneurship is accounted for in two forms: self-oriented and other-oriented. Our review indicates that both hedonic and eudaimonic well-being have received significant research attention, although the latter has gained more prominence. We found that negative well-being resulting from social entrepreneurial interventions is a matter of concern. Apart from critically synthesizing the literature, this paper offers a number of avenues for future research connecting well-being and social entrepreneurship.