Purpose: This study aims to explore the impact of engaging in serious leisure (SL) on the well-being (WB) and self-perceived employability (PE) of university students while also considering the role of career adaptability (CA) as a mediator. Design/methodology/approach: A total of 905 domestic undergraduate students from China completed an online survey. Findings: The findings reveal that participation in SL positively influences WB and PE. Additionally, the results indicate that CA mediates the SL-WB relationship but not the SL-PE relationship. Originality/value: The theoretical contribution of this research comes from advancing our understanding of sustainable career theory through empirical testing of SL, PE, and CA on WB outcomes within a higher education setting. The practical implications of this study involve providing universities with strategies to support domestic Chinese undergraduate students in enhancing their WB and PE through active engagement in SL pursuits and the development of CA. Moreover, our findings serve as a foundation for future research investigating whether insights gained from domestic Chinese undergraduate students can provide solutions on a global scale to address the persistent challenges of improving student WB and PE.