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Negative stereotypes about only children (OC) have caused widespread concern. However, relatively little is known about the accuracy of these stereotypes, especially regarding altruistic behaviors. In Study 1 (N= 337), participants rated the altruism of OC and non-only children (NOC) on three measurements on the basis of the participants’ perceptions. Results revealed that participants rated OC as less altruistic, and the stereotype primarily came from NOC raters. Results of Study 2 (N= 391) did not reveal any difference between OC and NOC in altruism. In Study 3 (N= 99), a social discounting task was applied to further investigate whether OC and NOC displayed different degrees of altruistic behavior toward various social distances. No differences were found among individuals at close or distant social distances. Ultimately, this research indicates that the negative stereotype regarding the altruistic behavior of OC is an incorrect prejudice.