The purpose of this study was to investigate the impact of emotional intelligence, dispositional optimism and emotional exhaustion on the psychological well-being of police officers in Ibadan, Oyo State, Nigeria. Two hundred and seventy- six officers constituted the study’s sample. Both the independent and the dependent variables were measured with relevant standardized instruments. Three research questions were answered in the study. The results showed that the independent variables both jointly and relatively contributed significantly to the prediction of psychological wellbeing of the police officers On the strength of these findings, it was recommended that factors such as working overtime, inadequate and delay in salary, obsolete equipment, lack and delay in promotion, staff shortages, in-fighting among senior officers for promotion/ posting, inadequate basic and continuous training of police personnel, which could lead to increase in emotional exhaustion, decrease in dispositional optimism and poor emotional intelligence skills, should be targets for intervention for the police administrators.