This study was mainly aimed at exploring the relationship between psychological well-being and lifestyle, religion, perceived physical health and social desirability of Italian elders.Four hundred and six cognitively healthy 65-99 years old participants were recruited from the Italian isle of Sardinia, where a high prevalence of centenarians is registered. Participants were presented with several tools assessing psychological well-being, lifestyle, social desirability, religiosity and subjective physical health.A hierarchical regression analysis revealed that the social desirability measure is the best predictor of general subjective well-being, whereas further predictors are age, perceived physical health and gardening. A significant but moderate relationship was also found between psychological well-being, subjective physical health and religiosity, while controlling for social desirability.Social desirability seems to contaminate the self-rating of psychological well-being in late adulthood. Moreover, from a developmental perspective, age-related factors, life style and perceived physical health are strictly related to and therefore influence the perception of life quality in the third and fourth age.