The purpose of this study is to analyze how general characteristics, emotional labor, empathy ability, and wisdom affect the psychological well-being of female caregivers. The research design is a descriptive correlational study. Data were collected using a self-report questionnaire, and analyzed using the SPSS Windows 27.0 program for hierarchical regression analysis. The results showed that there were differences in psychological well-being according to the work experience, education, and monthly income of 129 participants. In the analysis of the factors affecting the participants’ psychological well-being, model 1 showed 18.9% explanatory power with educational experience (ß = −0.23,p= 0.012) and monthly income (ß = 0.25,p= 0.007). In model 2, educational experience (ß = −0.23,p= 0.004), monthly income (ß = 0.20,p= 0.017), and emotional labor (ß = −0.41,p< 0.001) were the affecting factors, and the explanatory power increased by 16.1%, showing 35.0% overall. In model 3, educational experience (ß =−0.28,p< 0.001), emotional labor (ß = −0.35,p< 0.001), empathy ability (ß = 0.23,p= 0.001), and wisdom (ß = 0.52,p< 0.001) were the affecting factors, and the explanatory power increased by 36.9%, showing 71.9% overall. To enhance the psychological well-being of the participants, the head of the caregiving center should consider the education and income of caregivers. The center should also operate programs and prepare policies to reduce emotional labor and enhance empathy ability and wisdom.