Leadership research has a long history in psychology; the number of studies concerning leadership has begun to increase rapidly in recent years, however. The present paper introduces some approaches to leadership and well-being from the viewpoint of positive psychology. Positive psychology can, at least partly, contribute to the recent interest in leadership studies. There are three major points about leadership from the perspective of positive psychology. First, leadership is one of the most important factors in developing well-being and happiness in the workplace and in human life. Second, leadership is a real trait and an important human strength and virtue which has been ignored for a long period in personality research and in psychology generally. Third, transformational leadership can enhance wellbeing among both followers and the leader mediated by several psychological processes. Some directions for future research and practices are suggested.