ABSTRACT Background The adaption of individuals to adverse life events such as bereavement which reduce their subjective well-being is referred to as the hedonic treadmill. This study examined whether previous physical activity moderates the negative impact of bereavement on subjective well-being and how quickly such adaption occurs. Methods The analysis uses data from 13 waves (1996–2015) of the German Socio-Economic Panel (n = 139 097). Subjective well-being is captured with respondents’ life satisfaction. Individual fixed effects regression models with three-wave lagged effects and interaction effects for bereavement and previous physical activity were estimated for females and males. Results The significant reduction in life satisfaction is partly offset for individuals who were physically active prior to the adversity, suggesting moderation effects of previous physical activity. These effects are larger in absolute value for females, but females also suffered more severely from bereavement. Males’ partial adaption through previous physical activity is closer to the pre-event level, while females adapt earlier. More frequent previous physical activity allows both genders to partially adapt more. Conclusions Previous physical activity helps individuals suffering bereavement to partially adapt faster to such adversity, suggesting that physical activity accelerates the hedonic treadmill, though at a different pace for each gender.