The study investigated the university life satisfaction among undergraduates. The study employed the survey design technique. The population consisted undergraduates of Obafemi Awolowo University, Ile-Ife, Osun State, Nigeria. A total of four faculties out of the thirteen faculties in the school were selected using simple random sampling technique. From each faculty, 150 undergraduates were selected using convenience sampling technique. An adapted instrument titled “Students University Life Satisfaction Scale (SULSS)” was used to collect information from the students and the instrument yielded Spearman Brown Coefficients and Spearman Brown Split-half reliability tests values of 0.77 and 0.83 respectively at 0.05 level of significance. Percentage, rank order and t-test statistics were employed to analyse the data. The results showed that 342 (57%) of undergraduates were highly satisfied with the university life. It was revealed that the most factors that were responsible for the university life satisfaction among the undergraduates were academic activities 563 (94%), recreational activities 521 (87%) and spiritual programmes/activities 521 (88%). Also, the results showed that the problems of university life satisfaction were overcrowded lecture rooms 573 (96%), academic workload 548 (91%) and unstable academic calendar 538 (90%). Finally, the results showed that there was no significant difference between sex and university life satisfaction (t-test = -0.582, df.= 598, p > 0.05), but significant difference was found between place of residence and university life satisfaction (t-test = 0.012, df.= 598, p < 0.05), The study concluded that the students were highly satisfied with university life but depended much on factors such as academic activities, recreational activities and spiritual programmes/activities and physical facilities for their satisfaction.