According to the viewpoints of functionalism, leisure should be capable of playing some functions or bringing some benefits to individuals or society for its existence. A lot of efforts have been conducted to explore the benefits individuals could attain from leisure pursuits. This article was aimed to propose a three-factor model of leisure benefits, which was induced and integrated from related research findings. These three factors are balance of living experiences, promotion of wellness lifestyle, and enhancement of quality of life. Each of three factors could be sufficient to benefit leisure participants, while factors might be correlated to each other. This model is useful for understanding and guiding individuals to benefit from leisure participation. For leisure service providers, this model can be employed to design the services which service providers would like to deliver.