A model for evaluating well-being based on social support and social skills is presented in this paper, which also addresses the current gap regarding the studies focusing on the role of various dimensions of social skills as well as social support on well-being. The sample consisted of 1272 participants (701 men and 571 women), with an age range between 12 and 23 years. Data were gathered by the Brief Inventory of Thriving Scale, Psycho-Social Support Scale, and Social skill scale. Correlation analysis was employed to undertake a series of analyses on the relationships between the dimensions of social support, social skills, and well-being and results showed a significantly positive correlation between these variables. The Confirmatory Factor Analysis (CFA) as well as structural model analysis was carried out for the well-being, dimensions of social support, and social skill, and the model fit was checked using IBM SPSS AMOS 21. This study reveals social support as well as social skills as contributing factors towards enhancing well-being. It also highlights the role of social interaction and cohesion as important dimensions contributing to well-being.