The present study investigated how young children from a migrant family background in Australia identified and involved with their host and home culture and the influence on their acculturation and well-being. Fifty children in grades 1-6 who either migrated or had parents who migrated to Australia in the last 5-10 years completed a questionnaire package. Children in grades 1-2 completed the assessment package individually with an experimenter’s supervision and children in grades 3-6 completed the same assessment package in a group of ten. It was shown that those who identified with both the home and host culture reported a higher level of cultural involvement and more positive emotions towards Australian icons compared to those who solely identified with the home/host culture. Furthermore, cultural involvement positively predicted their satisfaction with life. Implications on children acculturation are discussed.