AbstractHope is a ubiquitous experience in daily life and acts as a force to help individuals attain desired future outcomes. In the current paper, we review existing research on hope and its benefits. Building on this work, we propose a new model of hope in romantic relationships. Our model seeks to expand the study of hope, addressing limitations of past research by bringing hope into the interpersonal domain and adding a future‐oriented perspective. More specifically, we argue that relational hope encompasses three facets, including relational agency, relational pathways, and relational aspirations, or what we call the wills, ways, and wishes people have in their relationship. We outline specific ways that these three facets may promote well‐being in romantic relationships. First, we propose that relational agency—the motivation to achieve relational goals—fuels approach‐motivated goals, which in turn promotes higher quality relationships. Additionally, we posit that relational pathways—the perception of sufficient strategies to pursue relational goals—enhance self‐regulation to support effective communication and conflict management with a romantic partner. Finally, we propose that relational aspirations—the positive emotions felt in anticipation of future relationship outcomes—foster growth beliefs which in turn promote relationship maintenance and commitment over time. While our model posits that relational hope has many potential benefits for relationships, we also discuss key contexts in which hope may undermine relationships and well‐being. Overall, our proposed model of relational hope offers a new area of insight into how hope may shape well‐being in romantic relationships.