This study explored the factors influencing the well-being of Iranian English as a Foreign Language (EFL) teachers. It sought to develop a comprehensive and nuanced understanding of their professional and personal satisfaction by examining the main contributors to well-being, teachers’ perceptions of it, and the strategies they used to maintain or enhance it. Data were collected through semi-structured interviews with 20 EFL teachers from diverse educational settings across Iran and were analyzed using thematic analysis. The findings showed that teacher well-being was a complex and multidimensional experience shaped by supportive work environments, opportunities for professional growth, personal coping strategies, and broader social and cultural contexts. Teachers highlighted emotional satisfaction, developing professional identity, meaningful engagement, and work–life balance as central to well-being. Challenges such as workload pressure, emotional labor, and insufficient institutional support negatively affected teachers’ well-being, whereas coping strategies such as mindfulness, humor, collegial support, and time management helped them maintain and improve their well-being.