This study investigated how social networking sites (SNSs) use by Chinese international students in Japan influenced their perceived social capital and psychological well-being. In addition, it examined how, as sojourners, Chinese international students' perceived acculturative stress varied. Data were collected from 142 Chinese international students. The results indicated that the intensity of SNS use was unable to predict individuals' perceived social capital and psychological well-being. The effect of SNS use varied according to the functions it serves. Specifically, SNS use for social and informational functions (SIF) increased individuals' levels of perceived bridging social capital and perceived life satisfaction, while SNS use for entertaining recreational functions (ERF) was unable to predict perceived social capital but increased individuals' levels of loneliness. It was also found that, in the intercultural environment, Chinese international students' levels of perceived acculturative stress were decreased by their perceived bonding social capital and increased by their perceived loneliness but had no relationship with their SNS use. Findings of the study suggest that individuals using SNSs to stay informed and connected will benefit with regard to their social network building and psychological well-being.