Based on Berry’s theoretical framework for acculturation and prior literature on how minority-related stress limits resources and opportunities for personal growth, this study investigated three growth-related mediators for the positive association between acculturative stress and lower psychological well-being. Participants were 263 East Asian international students from two midwestern universities in the U.S. Results using latent variable modeling supported two of the three mediation hypotheses: acculturative stress indirectly associated psychological well-being through its effect on engagement with new possibilities and optimism. In particular, the results suggested that as the level of East Asian international students’ acculturative stress increased, their engagement with new possibilities and optimism decreased, leading to decreased psychological well-being. Approximately 55% of the variance in lower psychological well-being was accounted for by acculturative stress and the three growth- and resource-related mediators. Multiple group analyses showed that this model could be equally applied to both undergraduate and graduate students, as well as to men and women. The current study offers insights into the mechanism of how acculturative stress may affect the psychological well-being of East Asian international students.