Positive psychology has revived psychology’s abandoned interest in the study of morally positively valued traits (the so-called character strengths) and virtues. We review literature generated on strength-based approaches and focus on applications in the so-called positive psychology interventions. There seems to be great potential in this approach for research in the field of giftedness and, of course, also when practically working with gifted children and adolescents. We highlight some ideas for future research directions.