This dissertation examined two critical experiences: peak experience and epiphany and their relationship with psychological well-being (general well-being and life satisfaction). Survey data from 217 college students was collected and a mixed method was used in the study. Results revealed four types of peak experience (need/dream/fantasy/goal being fulfilled as a peak experience, a shared moment that involves recognition of being in relation to the world, tragedy/separation/misfortune followed by a peak experience and an experience that involves nature or a high power) and six types of epiphany (epiphany after the death of others, illness, or danger of others or self, epiphany associated with a change in relationship, epiphany associated with environmental changes, epiphany after a mastery experience, epiphany that involves higher power, and epiphany from full awareness). The constructs of peak experience and epiphany overlapped. Peak experience was not associated with one's psychological well-being, while epiphany was found to be associated with one's life satisfaction.