The aim of this study was to portray a model that describes the relationships between personality traits, life satisfaction, positive and negative affects, stress, and academic achievements among physical education teacher education students. Participants were 173 first-year students. Four questionnaires were used to collect data: The Big Five Personality Inventory; the five-item Satisfaction with Life Scale; the Positive and Negative Affect Schedule; and the Perceived Stress Scale. In addition, the students' average grades were calculated. A Structural Equation Modeling for analyzing the structural model was performed. According to the model, 47% of the variance in subjective wellbeing is explained by personality traits, and 23% of the variance in academic achievement is explained by subjective well-being and the direct and indirect effects from the personality traits. Our study provides an understanding of the predictive power of personality traits and subjective well-being on academic achievements of physical education student teachers.