Professional identity is a relatively enduring belief that develops through the values, attitudes, and experiences derived from a professional role. This paper examines the presence of professional identification during the final years of teacher education. The purpose of the research was to check the connection between professional identification, study satisfaction and psychological well-being of students. It was assumed that students who have met the psychological needs of the study will also be more satisfied with the study and have a higher level of professional identification with the teaching profession. Ultimately, such satisfied students, who receive education for what they want to do in a way that meets the needs and thus intrinsic motivation, will have a higher level of psychological well-being, or lead a happier and more fulfilled life. The research, conducted during the summer semester of the 2020/2021 academic year, involved a total of 112 fourth- and fifth-year students at the Faculty of Teacher Education in Zagreb, of whom 44 were fourth-year students and 68 were fifth-year students. 50 of them attended classes at the Faculty of Teacher Education in Zagreb, 42 students attended classes in Petrinja and 20 in Čakovec. The variables examined included autonomy, competence, connection with colleagues, connection with teachers, professional identification, satisfaction with studies, and achievement of psychological prosperity. The hypotheses set are partially confirmed. The results showed that the students' basic psychological needs were met, they mostly already feel like teachers during their studies, they are satisfied with their studies and life. The only significant difference between fifth and fourth year students is in the satisfied need for competence. It is more pronounced in fifth year students. Students, who assess that they have the freedom to decide how to study and perform their duties (autonomy) and feel connected to other colleagues and teachers (closeness) are more satisfied with the study. Students who are more satisfied with their studies also identify more with the teaching profession. Satisfaction of the need for autonomy and competence in the study and professional identification significantly predict psychological prosperity.