Using Ryff’s positive psychological theory as a conceptual framework, this research was focused on mental health or well-being to explore the degree to which mental health can be predicted by personality traits and demographic factors in Nova Scotian youth and young adults. This theory covered all critical features of well-being by taking benefits from different developmental, personality and clinical theories. Employing Ryff’s inclusive theory that covered six dimensions including purpose in life, self-acceptance, positive relations with others, autonomy, environmental mastery, and personal growth, the researcher studied the relationship between mental health components and the locus of control. Participants: One hundred and seventy-two students of Mount Saint Vincent University were randomly selected and participated in this study. Measures: All participants completed three measures, Rotter’s Locus of Control Scale, Ryff’s Psychological Well-Being Scale and Demographic Questionnaire. Method: Quantitative methods such as bivariate correlation, ANOVA and hierarchical linear regression were used to explain the relationships between variables based on the research hypotheses. Results: The statistical analysis of data revealed that there was a positive and linear association between the internal locus of control and all six well-being components. Findings from the current research demonstrated that individuals who have an internal tendency in their locus of control are in higher levels of mental health in compression with individuals with external locus of control. Using hierarchical linear regression revealed that locus of control, gender, citizenship status, marital status can predict 41% of the variance in participants’ mental health.