Objective: The purpose of our quantitative correlational study is to investigate the relationship between the perceived organizational support of faculty members and their psychological well-being. Methods: Our study included 450 faculty members from state universities in Istanbul who were selected using a simple random sampling method. We used descriptive statistics, t-test, ANOVA, and linear multiple regression analyses. Results: We found that faculty perceptions of organizational support and psychological well-being vary according to academic title and tenure and are not different by gender. Perceived organizational support significantly predicted psychological well-being while controlling for gender, academic title, and tenure. Conclusions: Ensuring organizational support for faculty can positively impact their psychological wellbeing. Implication for Practice: Higher education institutions should diversify resources of support for faculty and make this approach a priority for the administration. The institution should make organizational changes that consider the needs and expectations of faculty members.