Community engagement of migrants has been identified as an important element in developing both individual well-being and cohesive multicultural receiving communities. Through 10 in-depth interviews, this study explores the profile of Moroccan migrant leaders in community organizations in the receiving context (south of Spain) and the reasons for which they engage. Moreover, it analyzes the relationship established between community engagement and their well-being. The results show that migrants commit for both intrinsic (e.g., support their compatriots) and extrinsic (e.g., increase their social connection) reasons. Their social action has a positive influence on their well-being because it activates the following paths: (1) improvement of bicultural competences; (2) development of social relationships with receiving members; (3) strengthening of social bonds with compatriots; (4) increase of abilities in dealing with unjust social conditions in the new environment; and (5) decrease of prejudice towards their own cultural group.