In this study, the relationship between university students’ subjective well-being and shyness, self-esteem, loneliness and perceived social support was examined. The research was conducted a total of 821 participants, 454 female (55.3%) and 367 male (44.7%) of different faculties of Anadolu University. In the course of data collection, the Positive-Negative Affect Scale (PANAS), Life Satisfaction Scale, Shyness Scale, Rosenberg Self-Esteem Scale, UCLA Loneliness Scale and Multidimensional Perceived Social Support Scale were used. The data were analyzed by structural equation modeling. Bootstrapping analysis was also conducted to test the significance of the indirect effects. According to the results of the study the model which revealed fully mediating role of self-esteem and perceived social support between shyness and subjective well-being (model 4) were the best fit. This model also indicated that self-esteem and perceived social support mediated between university students' loneliness and subjective well-being. Result of the bootstrapping analysis, the indirect effects were found to be significant. Findings of the study were discussed in the context of the related literature and the suggestions were offered.