Previous research has identified that both low‐ and high‐socio‐economic groups tend to be dehumanized. However, groups that have a deprived position are more willing to interiorize the negative perceptions that others have about them compared with affluent groups. In this project, we address the role of meta‐(de)humanization (the perceived humanity one thinks is ascribed or denied to one’s group) based on socio‐economic status differences and its influence in the perceived psychological well‐being. We conducted two studies: In Study 1 (correlational, N = 990), we analysed the relationship between socio‐economic status, meta‐dehumanization, and well‐being. Results indicated that lower socio‐economic status positively predicted more meta‐dehumanization and worse well‐being. Moreover, meta‐dehumanization mediated the relationship between socio‐economic status and well‐being. In Study 2 (experimental, N = 354), we manipulated socio‐economic status (low‐, middle‐, and high‐socio‐economic status conditions) to evaluate its influence on meta‐dehumanization and well‐being. Results indicated that individuals of low (vs. higher)‐socio‐economic status perceived more meta‐dehumanization and reported worse well‐being. Finally, a multicategorical mediational analysis indicated that low (vs. middle or high)‐socio‐economic status led to worse well‐being through higher perceived meta‐dehumanization. We discuss differences in perceived meta‐(de)humanization based on groups’ socio‐economic status and implications on the population’s well‐being.