The main purpose of this study is to determine the rate of how teachers' subjective wellbeing is predicted by their perceptions about the quality of school life and burnout levels. The participants of the study consisted of 161 teachers (93 females, 68 males) who were working in elementary schools in Adana central districts. The Positive-Negative Affect Scale (Watson, Clark, & Tellegen, 1988), Life Satisfaction Inventory (Diener, Emmons, Larsen, & Griff in, 1985), Quality of School Life Scale (Sari, 2007), and Teacher Burnout Scale (Seidman, & Zager, 1986) were used as data collection tools. To analyze the gathered data, stepwise regression analysis was performed. Results of stepwise regression analysis showed that teachers' subjective well-being levels were predicted significantly by the Quality of School Life Scale sub-factors, namely "status" and "curriculum" and burnout scale sub-factor, namely "coping work-related stress." Teachers' life satisfaction levels were predicted significantly by the variables of "status", "coping work-related stress" and "school administrator" which is a sub factor of the Quality of School Life Scale. Also, teachers' positive affect was predicted by the variables of "status", "positive affects towards school" and "teachers," and teachers' negative affect was predicted by the variables of "coping work-related stress", "status," and "curriculum." Other subscales of the Quality of School Life and Teacher Burnout Scales have no significant contribution in the estimation. Results also indicated that the contribution of predictors could be accounted as 39% for subjective well-being; 23% for life satisfaction; 23% for positive affect, and 37% for negative affect. In the direction of these general findings, it was suggested that, in-service education programs about interpersonal relations and coping strategies with stress should be applied for teachers and administrators. Besides that, the quality of life in schools should be increased. On the basis of limited similar studies in the literature, it was suggested that the number of both descriptive and predictive studies should be increased on the topic.