In this study, the mediating role of self-compassion and cognitive flexibility in the relationship between differentiation of self and subjective well-being was investigated. A total of 587 university students participated in the study. Participants completed the Differentiation of Self Scale, Self-Compassion Scale, Cognitive Flexibility Inventory, Positive and Negative Emotion Scale, and Life Satisfaction Scale. The role of self-compassion and cognitive flexibility in explaining the relationship between differentiation of self and subjective well-being was examined using path analysis. Research findings showed that self-compassion and cognitive flexibility play a full mediating role in the relationship between differentiation of self and subjective well-being. The findings were discussed in the light of the literature and recommendations were presented.