Purpose: This study aims to closely examine principals' emotional well-being (EWB) and its enhancement and risk factors in the context of British Columbia (BC), Canada. Design/methodology/approach: This exploratory study is based on an online survey from a previous research that garnered information from public school principals in BC, Canada about the various aspects of their well-being. The survey data were analysed using structural equation modelling. Findings: The study results show that resilience, organizational support and policies and external influence can contribute to principals' EWB, but factors that often put principals in draining situations, such as mental health issues among students and teachers and mentoring of new teachers, are risk factors that negatively impact principals' EWB. Additionally, long work hours are also having a detrimental effect on principals' EWB. Practical implications: EWB is how well people are able to manage their emotions and cope with life and work adversities and challenges. With increasing, if not competing, demands of public education, it is EWB that can sustain principals to cope with work-related challenges and demands. Cultivating principals' EWB becomes paramount, and it not only needs to focus on developing individuals' resilience but also requires organizational and system support. Originality/value: School principals' EWB has been confirmed to be the most significant dimension of their overall well-being. A principal who is emotionally not well may exhibit emotional stress that can be in turn felt by students, teachers, staff and the wilder school community. Promoting EWB among school principals is paramount to creating healthy schools. However, studies on EWB itself are rather limited.