Cross-sectional and longitudinal studies have demonstrated an association between various functions of reminiscence and well-being in later adulthood. This study investigates to what extent the links between reminiscence (self-positive and self-negative functions) and psychological well-being (depressive symptoms, anxiety level and life satisfaction) are mediated by assimilative and accommodative coping. This mediational model was tested using structural equation modelling. The results support the hypothesis that coping completely mediates the links between reminiscence and psychological well-being. Specifically, self-positive reminiscences are related to improved psychological well-being via assimilative and accommodative coping, while, in contrast, self-negative reminiscences are associated to reduced psychological well-being through their negative relationships with both coping modes. These findings suggest that reminiscence contributes to psychological well-being in part because it promotes assimilative and accommodative coping, which are protective mechanisms through which the self-system constructs continuity and meaning over the life course.