This study investigates factors correlated with the psychological well-being of parents of children with leukemia in China. A survey with self-administered questionnaires was employed and a total of 31 caregivers were recruited from two children's hospitals in Shanghai. The study investigates factors from three different aspects in the context of childhood cancer: children's illness-related and demographic variables, demographic variables of the parents, and the parents' coping approaches. The findings show that parents are at risk of poor psychological well-being related to perceived unsatisfactory financial status, and a lack of self-oriented coping approaches. The implications for social service provision are discussed.