The COVID-19 pandemic has dramatically affected individuals’ psychological well-being worldwide, thus representing a challenge for flourishing among emerging adults. To understand psychological processes involved in the positive adaptation to this challenge, the present study examined the role of meaning in life and religious identity as crucial resources for flourishing in a sample of 255 Italian emerging adults. Specifically, as in the midst of a stressful event individuals may experience the potential for flourishing through the process of search for meaning, the study examined the mediated role of existential, spiritual/religious and prosocial orientations as the three primary trajectories for building meaning. Results from path analytic mediation models revealed a positive influence of presence of meaning and in-depth exploration on flourishing. Findings also suggested the contribution of prosocial orientation in building meaning and, ultimately, in increasing flourishing. Implications are discussed.