Grit--passion and perseverance for long-term goals--has been linked to a wide array of positive academic and psychological outcomes. However, limited research has been conducted to explore the association of grit with different indicators of well-being and psychological health. The primary objective of this study was to assess the associations among grit, meaning in life, and depression. There were 447 Filipino high school students who participated in the study. Results of structural equation modeling showed that grit was linked to higher levels of meaning in life dimensions (i.e., presence of meaning and search for meaning in life) and presence of meaning was associated with lower depression. Bias-corrected bootstrapping revealed that grit had an indirect negative influence on depression through the intermediate variable--presence of meaning in life. Theoretical and practical implications are elucidated.