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Several researchers argue that racial identity is important to African American youths’ overall well-being (Jones, Cross, Defour, 2007). However, the actual relationship between racial identity and African American youth well-being is unclear. Some studies found that high levels of racial identity among African Americans is associated with positive outcomes such as academic attainment, fewer risky behaviors, less aggression, active coping, and mental health (Mandara, Gaylord-Harden, Richards, & Ragsdale, 2009; McMahon & Watts, 2002; Rowley et al., 1998; Townsend & Belgrave, 2000; Yasui, Dorham & Dishion, 2004; Wong, Eccles, Sameroff, 2003). Counter to these findings, several studies have also found no relationship between racial identity and well-being (Awad, 2007; Caldwell et al., 2002; Carter, DeSole, Sicalides, Glass, & Tyler, 1997), while others found that racial identity is related to lower mental health and worse academic achievement (Anglin & Wade, 2007; Munford, 1994; Pierre & Mahalik, 2005). We propose several reasons for these discrepancies. First, given that there are over fifteen major racial identity theories, there may be differences in the theoretical conceptualizations of racial identity (e.g., stage versus multidimensional). Second, there are several racial identity sub-factors, which may be differentially related to various well-being outcomes. This problem is further compounded when studies use composite measures of several different racial identity factors. This abundance of racial identity models and factors and other limitations makes it difficult to compare studies and interpret the overall findings. Therefore, the purpose of this study was twofold. The first was to organize the disparate racial identity theories, models and sub-factors into a coherent conceptual framework. The second purpose was to conduct a meta-analysis of the racial identity effects on African American youth well-being using the framework. The ultimate goal was to come to a better understanding of how racial identity is related to African American youth’s well-being. Based on a content analysis of the items of each major racial identity instrument, the different measures were classified into the following categories: (1) racial pride; (2) exploration of racial traditions and customs; (3) cultural mistrust; (4) salience of race; and (5) humanistic/multiculturalist views of race. Using this framework, a meta-analysis of studies that assessed the effects of racial identity on African-American youth mental health and academic adjustment was conducted. Thirty-eight studies with over 9,000 different participants were found. Measures of racial pride were positively and strongly related to well-being. The other dimensions of racial identity were not as strongly related to well-being, especially for girls. It was concluded that the conceptual framework developed in this study helps to clarify much of the inconsistencies in the racial identity literature and that future intervention efforts should be directed at instilling a sense of pride and agency and comfort within one’s skin.