According to the two continua model of mental health, psychopathology and positive mental health (emotional, psychological, and social well-being) are related but distinct continua. This study investigates the two continua model by examining whether psychopathology and positive mental health show differential associations with the Big Five personality traits. The paper draws on data of the representative LISS panel (CentERdata). Participants (N = 1161; age 18–88) filled out questionnaires on personality, psychopathology, and positive mental health. Personality traits were differentially related to psychopathology and positive mental health, supporting the two continua model. Emotional stability (reversed neuroticism) is the main correlate of psychopathology, whereas the personality traits extraversion and agreeableness are uniquely associated with positive mental health.