The goal of the present study was to examine differences in self-esteem between volunteers with physical disabilities and their counterparts who do not volunteer. Another goal was to examine the contribution of the characteristics of the volunteering experience (motives for volunteering, satisfaction with the rewards of volunteering, and the quality of relationships with beneficiaries) to explain self-esteem among volunteers with physical disabilities. The research sample included 160 Israeli participants with different physical disabilities. Of these, 95 volunteered and 65 did not volunteer. Participants who volunteered had higher self-esteem than those who did not. The findings highlight the compensatory role of volunteering for people with disabilities: The contribution of volunteering to enhancing self-esteem was mainly evident among participants with poor socioeconomic resources (low education, low economic status, and unemployed). Egoistic and altruistic motives for volunteering as well as satisfaction with the rewards of volunteering contributed to explaining self-esteem.