The aim of this study is to examine the effect of organizational virtuousness on ethical climate and psychological well-being according to teachers’ perceptions. The research is a correlational study. The universe consists of 12,852 teachers working in 444 schools in the central districts of Konya in the 2017-2018 academic year. The sample consists of 452 teachers determined with the proportional cluster sampling method. It was found that perceptions of psychological well-being are at a good level and there is a significant difference between perceptions of psychological well-being regarding “gender” in favour of women. Organizational virtuousness and ethical climate perceptions vary significantly regarding “seniority”. Significant correlations were found between psychological well-being, organizational virtuousness, ethical climate and their dimensions. It is determined that organizational virtuousness predicts ethical climate at a high level and psychological well-being at a medium level. Additionally, ethical climate predicts psychological well-being moderately.