This empirical study demonstrates that extraversion and loneliness as important variables predicting depression, subjective happiness, satisfaction with life and online flow experience. Extraversion was categorized into two categories, namely high and low extraversion. Similarly loneliness was also categorized into high and low loneliness. Data was collected from 342 participants (184 males and 158 females) using a structured questionnaire that contained all the variables of the study. Statistical techniques such as reliability and multivariate analysis of variance (MANOVA) were used to analyze the data. Results revealed significant main effects of extraversion and loneliness on depression, subjective happiness, satisfaction with life and online flow experience. High extraversion and low loneliness had a negative effect on depression and online flow experience, and a positive effect on subjective happiness and satisfaction with life. Interaction effects indicated that an individual has low depression and low online flow experience, and high subjective happiness and high satisfaction with life when he/she is extroverted in nature and suffers from low degree of loneliness. The details of findings of the study have been suitably discussed.