Evidence suggests that within the context of collectivistic minority groups, familial pride may function largely as a family-based emotion. We examined whether emotions derived from achieving on behalf of ones’ family were associated with positive psychological functioning in Asian American college students. The sample for this cross-sectional design included 219 Asian Americans (M = 19.4, SD = 2.0, 66% women) at a minority serving university in Southern California. Participants completed a self-report survey assessing familial cultural values, depression, self-esteem, family-responsive joy, and the recently articulated construct of familial pride. Along with other familial cultural values (i.e., support, obligation, respect, and family as referent), factor-analytic results supported the use of the novel familial pride measure in this sample. Path analyses revealed familial pride was uniquely associated with lower depressive symptoms, higher self-esteem, and higher family responsive joy. In addition to assessing commonly conceptualized familial cultural values, researchers should seek to understand how the emotional correlates of familial pride are related to psychosocial functioning in Asian American adolescents and emerging adults. Practices aimed at fostering these experiences are likely to promote adaptive development for this population.