There is a recognition about the mental health, educational, and career-related benefits of positive youth development (PYD) in children and youth. This brief review provides an overview of the current application of PYD in school settings. We begin by summarising the common conceptualisations of PYD along with similar and distinct features in such models. Then, we discuss the current status of PYD research and highlight the academic and psychological payoffs of PYD-oriented programs in schools. Importantly, this review elaborates future directions and practical implications for PYD researchers and practitioners in school contexts.