This study concerned the relationships among personal values (conformity, tradition, benevolence, universality, self-direction, stimulation, hedonism, achievement, power, safety), time perspectives by Zimbardo (past negative, past positive, present hedonistic, present fatalistic, future) and life satisfaction. The main hypothesis stated that value priorities would predict life satisfaction both directly and indirectly through time perspectives. 237 Polish students (120 females) took part in the study. Path analysis demonstrated that life satisfaction was directly and positively predicted by the value of benevolence, and indirectly and negatively by conformity and tradition via the past negative time perspective. Life satisfaction was also indirectly predicted by the values of hedonism and security via the future time perspective - Hedonism was a negative, and security a positive predictor of future time perspective, and the future time perspective was a positive predictor of life satisfaction. The significance of these results for mechanisms and predictors of life satisfaction is discussed.