The aim of this study was to investigate factors affecting exhilaration and their association with happiness of school elementary teachers in Shahrekord, Iran. The study population consisted of all elementary school teachers in Shahre-kord, Iran. 203 elementary teachers were surveyed through random sampling and using Morgan’s table. The data were collected by means of the self-made questionnaire covering factors affecting the exhilaration and Oxford Happiness Questionnaire. Result of this study indicated that the best predictors of exhilaration are economic factors, gathering, office hours, evaluation, and active teaching methodology. Based on beta coefficient, with 1% increase in teachers’ gathering, exhilaration increased by 0.308, office hours by 0.335, evaluation by 0.201, active teaching methodology by 0.202, and economic factors by 0.174. We found that the Ministry of Education should pay special attention to the mentioned items in order to increase the students’ self-confidence, efficiency, social and individual skills, and quality of life.