Metacognition is a multi-dimensional phenomenon consisting of knowledge and regulatory skills used to monitor, control, and appraise one’s thoughts and thought processes (Schraw, 1998; Wells, 2009). This essay contends that metacognition is relevant to positive psychology and the non-clinical application of well-being practices as it may be utilized to promote self-efficacy, decrease anxiety, and increase well-being. Fortifying metacognitive processes (i.e. knowledge and regulation of cognition) is conceived to foster a sense of control regarding one’s thoughts and behaviors, thereby increasing one’s self-efficacy. Next, it is argued that metacognition may be used to decrease anxiety as the monitoring processes subsumed in metacognition offer a mechanism to manage the effects of cognitive processes which intersect emotional disturbance. An exploration of various existing therapies intends to show the subliminal presence of metacognition and its capacity to mitigate anxiety for those in the non-clinical population. Finally, it is hypothesized that metacognition may be utilized to increase well-being as knowledge and regulatory cognitive capacities permit one to appraise and manage cognitions, strategize, and modify behaviors which are more aligned with one’s goals and values. Metacognitive skills may be employed to pursue practices which increase positive affect, encourage a positive sense of self, and generally promote flourishing.