Introduction: Youth in Morocco face multiple mental health challenges, yet limited evidence exists on what drives their well-being. This study aims to qualitatively explore the key factors influencing youth mental health in Morocco through youth and stakeholder perspectives, and to understand the level of youth engagement in mental health, and its barriers and enablers. Methods: We conducted a qualitative exploratory study using semi-structured interviews with key informants from various stakeholder groups involved in youth mental health. The study focused on three main areas: the drivers of youth mental health and well-being in Morocco, the level of youth engagement in mental health, and its barriers and enablers. Data was analyzed using a thematic analysis approach, and a causal loop diagram was developed to explore the interrelationships between the drivers. Results: We conducted semi-structured interviews and focus-group discussions with 65 participants, including youth representatives, parents, and policymakers. Findings revealed that youth well-being is shaped by individual, familial, social, and structural factors. Participants emphasized the role of positive parenting and mental health awareness in promoting well-being. Educational spaces were identified as key sites of stress due to violence, bullying, and lack of support. Social media was identified as both a source of support and a driver of anxiety and low self-esteem, providing access to help while also fostering social comparison and self-isolation. Stakeholders acknowledged that youth engagement in mental health initiatives was increasing. However, youth participation in formal decision-making and policy processes remained limited. Barriers included a lack of structured participation pathways, and persistent power dynamics, whereas facilitators included capacity-building and ensuring meaningful, non-tokenistic engagement. Conclusions: Youth mental health policies and programs in Morocco must reflect young people’s lived experiences. Meaningful youth engagement is essential to building advocacy, skills, and ownership of mental well-being, and ultimately improving mental health outcomes for Moroccan youth.