The aim of the present study was to assess the level of facebook addiction, loneliness and psychological well–being among college students. The data was collected from 60 students (30 males and 30 females) using Facebook Addiction Scale by Bergen, UCLA Loneliness scale by Russel, Peplau and Psychological Well–being scale by Ryff. The obtained data was organized for statistical analysis. Descriptive statistics was computed along with‘t’ and Pearson’s product moment correlation.  The‘t’ test results revealed that there is no significant gender difference on loneliness and psychological well–being, but a significant gender difference on facebook addiction was seen among college students; with males having greater scores than females.  The correlation co–efficient revealed that there is a significant negative relationship between Facebook addiction and well–being, between facebook addiction and loneliness and between loneliness and well–being. Further, a linear Regression analysis was done to check the extent of influence of facebook addiction on psychological well–being. The result revealed that 52.5% of facebook usage contributed to lowered psychological well–being among college students.