Previous studies have investigated interdependence of the associations between predictors and negative psychological outcomes in dyads of cancer patients and family caregivers. This study examined the dyadic effects of perceived capability of savouring the moment on psychological well‐being. A total of 152 dyads of cancer patients and caregivers reported their perceived capability of savouring the moment (Savoring Beliefs Inventory), state positive affect (Chinese Affect Scale) and life satisfaction (Satisfaction With Life Scale) within 6 months following diagnosis. Actor–Partner Interdependence Model (APIM) demonstrated that patients’ and caregivers’ savouring the moment was positively associated with their own positive affect and life satisfaction (actor effects: βs = 0.309–0.603, 95% CIs = 0.171–0.502, 0.446–0.703, ps < 0.001). Patients’ savouring the moment was positively associated with caregivers’ positive affect (β = 0.158, 95% CI = 0.018, 0.299, p = 0.028), whereas caregivers’ savouring the moment was positively associated with patients’ life satisfaction (β = 0.158, 95% CI = 0.026, 0.289, p = 0.020). Partner effects between caregivers’ savouring the moment and patients’ positive affect and between patients’ savouring the moment and caregivers’ life satisfaction were not significant. The findings suggest the role of savouring in psychological well‐being within patient–caregiver dyads, highlighting the importance of investigating positive psychological pathways in their joint adaptation.