This article presents an in-depth study illuminating prospective teachers’ (PTs) emotions and identity in their development of becoming mathematics teachers. The participants study at a general teacher education programme and have chosen to specialise in mathematics. The theoretical framework in this study is based on Ricoeur’s (1992) and Nussbaum’s (2001) theories on identity and emotion. The main argument for using this framework is the link between ethics, eudaimonia, value judgment, emotions and identity. These terms are closely related with the question of a person’s well-being and flourishing. Through this framework, this study tries to make an innovative approach in the field of mathematics education. The findings indicated an emerging identity towards a reform mathematics teacher when analysing the participants' emotions, well-being and their flourishing.