Meaning making is a useful coping strategy in negative situations. We investigated whether making meaning in negative experiences (MINE) would help people cope with COVID-19. We conducted a three-wave longitudinal study (N = 2364) three months before, during, and after the COVID-19 outbreak in China. Results showed that participants reported increased tendency of MINE during the COVID-19 outbreak than three months before the outbreak. Moreover, both initial MINE and the increased MINE predicted less psychological distress including depression, anxiety and stress, during and three months after the outbreak. Perceived benefits and costs of the COVID-19 mediated the long-term effect of MINE. These findings not only provide novel evidence for meaning making model but also shed light on the underlying mechanism, suggesting an effective strategy to cope with stressful events such as the ongoing COVID-19 pandemic.