This study aimed at examining the relationships among subjective family socioeconomic status (FSES), self-esteem (SE), social support (SS), and life satisfaction (LS) in two independent samples of Chinese adolescents. In Study 1, 510 adolescents were asked to complete a multi-section questionnaire. The mediation analyses indicated that subjective FSES predicted LS through three pathways. First, subjective FSES predicted LS through the mediating effect of SE. Second, subjective FSES predicted LS through the mediating effect of SS. Third, subjective FSES predicted LS through the serial mediating effect of SS and SE. Besides, the contrast tests revealed that the mediating effect of SE had no significant difference with that of SS. To test whether the above results are stable and replicable, we further conducted a validation study in Sample 2 (N = 405) and found all the results remained significant. Implications for future research and limitations are discussed.