The article reveals the importance of creativity in achieving psychological well-being in teachers of higher educational institutions and substantiates the feasibility of its study. Psychological well-being is considered as an important indicator in people’s lives, their desire for the development of personal potential, the formation of positive relationships, and productive creative activity for the benefit of society. The role of creativity in achieving the psychological well-being of a person as a unique creative ability, an important condition for human life, is substantiated. It affects self-acceptance, personal growth, creativity, among others. Creativity indicators (curiosity, creative opportunities, self-confidence, stability and persuasiveness, the desire to be an independent person, the ability to cope, etc.), affecting the psychological well-being of teachers of higher educational institutions, their satisfaction with life, work and themselves are investigated. It was established that the level of creativity is insufficient and that teachers for training specialists in social work have lower indicators than teachers of a foreign language. It is shown that creativity is a factor in psychological well-being and affects the formation of relationships with others, the purposefulness and meaningfulness of life, self-acceptance, personal growth, and the like. Statistically significant differences were found in terms of creativity and psychological well-being of the teachers who were studied depending on gender.