His new novel was well-received by readers.

well-received 是由副词 well（好地）和动词 receive（接收、接受）的过去分词 received 组成的复合形容词。well 在这里表示程度，received 表示"被接受"。 well-received 的字面意思是"被很好地接受"，引申为"广受欢迎的、获得好评的"。