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The present paper describes excellence as one of the major concerns in varied domains because it seems to be one of the most effective ways to ensure optimal human functioning. The society in which one grows up determines to a large extent that how we perceive excellence and the goal of getting the best out of our life. Excellence as a concept has seldom been the subject of academic scrutiny. The purpose of this paper is to consider excellence as a multifactorial entity in terms of its components and research fields. Excellence does not urge us to be at the top in every single aspect of life, rather it allows excelling in any particular area of work where we can really make a difference. In essence, excellence is the pathway for success at work, at home and in life in general. It is all about being the best one can be and maximizing our gifts, talents and abilities to perform at our highest potential. Therefore, the promotion of excellence is necessary to determine superior performance of individuals in different fields of knowledge and for understanding the true meaning of life filled with maturity and integrity.