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Background: Organizational well-being is a critical issue that should be addressed within nursing organizations as it boosts the morale and work motivation of its members by enhancing their satisfaction and happiness. Aim: This study aimed to evaluate the levels of positive psychological capital, shared leadership, and organizational well-being among nurses, and examine the impact of positive psychological capital and shared leadership on organizational well-being. Methods: A descriptive survey research design was used, involving 177 nurses with at least one year of work experience at highly specialized hospitals in Korea treating patients with severe conditions. Data were collected via an online survey from July 1 to August 31, 2023, using a questionnaire that included items on general characteristics, job-related characteristics, positive psychological capital, shared leadership, and organizational well-being. The collected data were analyzed using the SPSS 29.0 software, employing statistical measures such as frequency, percentage, mean, standard deviation, t-test, ANOVA, Pearson correlation coefficient, and hierarchical regression analysis. Results: The participants' scores were 3.32 ± 0.51 out of 5 for organizational well-being, 4.12 ± 0.58 out of 6 for positive psychological capital, and 3.64 ± 0.59 out of 5 for shared leadership. Factors identified that influenced organizational well-being included positive psychological capital (β = 0.462, p <.001) and shared leadership (β = 0.442, p <.001), which explained 58% of the total variance in the model (F = 48.74, p <.001). Conclusions: To improve the organizational well-being of nurses, it is essential to develop capacity-building and intervention programs that boost positive psychological capital and shared leadership. Achieving this goal necessitates not only the individual efforts of organizational members but also robust organizational support, engagement, and proactive management. [ABSTRACT FROM AUTHOR]