The association of Facebook use and users' psychological well-being has attracted growing scholarly attention, yet the nature of this association remains contentious. A literature review was conducted to examine psychological well-being influences linked with Facebook use. A total of 36 articles, extracted from a Scopus database, met the inclusion criteria and were incorporated in the study. While most study results revealed that Facebook usage was positively linked with users' psychological well-being, negative links have also been identified, which have far-reaching implications for healthcare providers such as counselors, psychologists, and public health workers to be aware of its possible consequences on psychological well-being of users. We explain the variables that mediate and moderate the Facebook use-psychological well-being link (such as social factors, Facebook use frequency, individual differences, and problematic Facebook). The application of meta-analysis techniques is required to quantify the nature and path of the Facebook use-psychological well-being link.