Positive psychology research has been developing continuously for the past few years and has become a focus of research attention worldwide. The effects of positive psychology interventions have been examined by Sin and Lyubomirsky (2009; 1977–2008) and Bolier et al. (2013; 1998–2012). The purpose of this study was to explore the effects of positive psychology interventions on well-being and depression. The study time was defined as 2013–2017. The present study undertook a systematic literature search using the PerioPath Index to the Taiwan Periodical Literature System, the China National Knowledge Infrastructure, ProQuest, Scopus, Web of Science, and Google Scholar. A total of 47 articles describing 48 studies met the criteria for inclusion. The studies concerned a total of 10,652 participants, 4,509 of which were in control groups. Primary outcomes were subjective well-being, psychological well-being, and depression. Positive psychology interventions included individual interventions and group training. Recruitment was conducted both online and offline. Positive psychology interventions that were used were gratitude interventions, strengths interventions, forgiveness interventions, engagement and flow interventions, savoring interventions, and meaning-oriented interventions. The results revealed that (1) the effect size of the fixed effect model was 0.309 for subjective well-being, 0.451 for psychological well-being, and 0.376 for depression. Positive psychology interventions had a low to moderate positive effect. At follow-up from 1 to 6 months, the effect size was still significant for subjective well-being and depression, indicating that the effects were fairly sustainable. Additionally, the results revealed that (2) moderators were intervention time, intervention methods, age level, recruitment method, recruitment category, sample characteristics, student category, control group treatment conditions, and different languages, all of which had a significant influence on subjective well-being, psychological well-being, and depression. Moreover, indications regarding literature collection, publication bias, and cultural differences were found, and the quality of the studies varied widely. The results of the meta-analysis indicated that positive psychology interventions were effective for the enhancement of subjective well-being and psychological well-being as well as for reducing depression symptoms. Finally, according to the conclusions, suggestions for positive psychology intervention research, educational practice, and future research are proposed.