The Savoring Beliefs Inventory (SBI) measures the perceived capacity to savor positive experiences in the future, in the moment, and in the past. In a non-clinical sample (N = 355) we examined internal consistency, factor structure, and construct validity of the German SBI. The clinical specificity was examined in reliably diagnosed patients with depression or anxiety (N = 63). Stronger depressive symptoms and higher anhedonia were associated with lower levels of savoring beliefs, whereas satisfaction with life was associated with higher savoring beliefs. Patients with depression had significantly lower savoring beliefs than patients with anxiety. Incorporating the SBI to predict diagnoses significantly enhanced the model's predictive accuracy compared to using only measures of depression and anxiety. Our results support the structural validity of the German SBI and demonstrate excellent levels of reliability and convergent validity. Our findings suggest that savoring can be a protective factor against depression and a valuable starting point for positive psychology interventions.