Exercise is becoming a prescription for mental health issues due to its convenience and the fact that it can be done anywhere. Walking and running/jogging are the most popular exercises these days. But whether one is preferable to the other in terms of improving health has long been debated. Psychological well-being refers to one’s positive sense of subjective well-being. It taps six distinct aspects of human actualization: autonomy, environmental mastery, personal growth, positive relations with others, purpose in life, and self-acceptance. The present study focused upon comparing Psychological Well Being of 200 daily Runners (100) and Walkers (100) of Pune City of age group 25-45 years. The research tool used for the study was “The Ryff Scales of Psychological Well-Being” developed by Spring in 2005 which measures six areas of psychological well-being. The sample was collected randomly through simple random sampling and data was analyzed using Mean, SD and Z test. One of the major inclusive criteria of the study was minimum 3 months of regular exercise (Walking or Running/jogging). Results revealed that Runners shows higher value of Psychological well being as compared to Walkers. This may be because running sharpens focus and improves mental stamina, by giving circulation a boost up and increasing the flow of blood to the brain. It also increases confidence. Although there is research both for and against the positive influence of exercise generally it has been linked to increases in mood, self esteem, positive body image, positive physical effect and a decrease in depression.