Within psychology, subjective well-being refers to a person’s overall evaluation of the quality of life from his or her own perspective. Traditionally, psychologists have focused on three specific components of subjective well-being: life satisfaction, positive affect, and negative affect, though disagreements exist about precisely how these components should be best measured. Psychological research shows that intuitively appealing predictors of SWB, such as income and health, are typically only weakly correlated with SWB, whereas personality predictors tend to be stronger. This chapter reviews basic psychological research on SWB, addresses questions about the conceptualization and measurement of the construct, and discusses recent attempts to clarify the associations among the various components that are typically studied.