The goal of this chapter is to provide an updated review of positive psychology as it relates to child and adolescent development. Rather than focusing on psychopathology and negative outcomes, positive psychology examines the strengths and positive assets of individuals across developmental stages. Researchers have noted the importance of identifying individual strengths versus deficits, which has led to an increase in research examining positive psychology concepts. Although there has been an increase, the relative dearth of positive psychology studies in youth compared to adults suggests additional research is warranted. This chapter examines positive psychology constructs (i.e., hope, optimism, quality of life, and benefit finding/post-traumatic growth) and outlines how these concepts relate to children and adolescents. In addition to providing a general overview, this chapter highlights developmental considerations, measurement and future research directions, prevention and promotion, and settings for the delivery of positive psychology to children and adolescents.