Objective: Existing research demonstrates that being mastery oriented is associated with several academic outcomes such as better engagement and achievement. To date, however, there is a dearth of research evidence on the emotional payoffs of mastery orientation. The current study explored the link between mastery orientation, subjective well-being (SWB), and the mediating functions of perseverance and adaptability. Method: The study used data from the PISA 2018 dataset and had 6,062 participants, of which 54.4% were female and 46.4% were male. The proposed model was tested using path analysis to determine if perseverance predicts SWB and to examine the mediating roles of perseverance and adaptation. Results: The results showed that students' SWB was positively predicted by mastery orientation. Perseverance and adaptability also predicted SWB and served as a partial mediator of between mastery orientation and SWB. Conclusions: The study advances knowledge of the psychological benefits of students embracing mastery orientation. The findings suggest that pupils who are mastery-oriented not only succeed academically but also report higher levels of subjective well-being. Perseverance and adaptability serve as underlying psychological mechanisms in this relationship.