The urban settlement intention of the floating population and its influencing factors have received widespread attention, but there is less literature on the relationship between human capital, life satisfaction, and the urban settlement intention of the floating population. Employing 2146 questionnaire data from the Pearl River Delta’s floating population, this study establishes measurement indicators for human capital and life satisfaction, constructs a structural equation model, and examines the influence of human capital on life satisfaction, as well as their collective impact on the floating population’s urban settlement intentions. The findings reveal that human capital influences multiple facets of the floating population’s life satisfaction, which subsequently shapes its desire to settle. Considering individual life satisfaction, the economic well-being and social security contentment of the floating population exert a notable impact on its urban settlement intentions, whereas satisfaction with emotional life and public service facilities appears to have a less pronounced effect. Further investigation into how varying levels of human capital modulate the influence of life satisfaction on urban settlement intentions, alongside the transition from fundamental economic security to psychological needs (about life satisfaction), holds substantial referential value for research on population migration and the development of citizenship policies in China.