The present study aimed at determining the association between life satisfaction and subjective happiness while controlling for social desirability, and to explore whether overall satisfaction with life can be predicted by satisfaction with life dimensions while controlling for social desirability. The study had a quantitative, non-experimental cross-sectional design, with 279 participants from different universities of the Council of Rectors of Chile recruited through a non-probabilistic sampling method for convenience. The participants completed an online questionnaire that inquired about their global and dimensional satisfaction with life, subjective happiness, social desirability, and sociodemographic variables. The data was analysed using partial correlations and multiple regression analyses. Bivariate correlation results indicate weak and direct associations between social desirability and life satisfaction and subjective happiness, and a strong and direct association between the latter. According to the results of the partial correlation analysis, the association between life satisfaction and subjective happiness is maintained even when social convenience is controlled. The results of the multiple regression analyses indicate that although social desirability predicts life satisfaction by itself, when satisfaction with life dimensions is added to the model, social desirability loses its predictive power. In conclusion, although social desirability is associated with the two components, affective and cognitive, of subjective well-being, this association loses predictive power when other variables are considered in predictive models.