The purpose of this study was to investigate the effects of children``s perceptions of daily hassles and social supports on their subjective well-being. It also examined the independent influence of social supports on subjective well-being apart from the effect of daily hassles. The data was collected from 425 children in the 5th and 6th grades in elementary schools in Seoul. The data were analyzed by Pearson’s correlation, regression analysis, and hierarchical regression using the SPSS 22.0 statistical program. The study revealed the following results: Firstly, children``s daily hassles affected their subjective well-being. “Their parents,” “their home environment,” “their peers/friends” and “their academic achievement” negatively affected their subjective well-being. Secondly, children``s social support had a meaningful effect on their subjective well-being. “Family support” and “friends’ support” had a positive impact on their subjective well-being. Finally, children``s social support had a separate influence on their subjective well-being besides children``s perceptions of daily hassles.