This study used data from 1871 college students across China to examine the relations among volunteering and PWB in 2020. Results of regression analysis indicate that volunteering had positive effects on the PWB of the students. Students whose motivation to volunteer was public interest had greater PWB, regardless of the degree to which they also reported private gain as a motivation. The significant interaction results indicate that students whose volunteer motivation included both public interest and private gains and who had high frequency of volunteering were more likely to have higher PWB. Policy and practice implications were discussed.