The present study investigates the relation between dispositional and state hope levels and student well-being in the context of causality by model analysis. Eight hundred and eighty-one students (653 females, 228 males) from different departments of five universities (Ankara, Canakkale Onsekiz Mart, DumlupA +/- nar, BaAYkent, Maltepe) in different regions of Turkey participated in the study. Participants were administered a demographic questionnaire as well as Turkish versions of the State Hope Scale, Dispositional Hope Scale, Scales of Positive and Negative Experience, and Flourishing Scale. The results indicated that model 1, which was designed to investigate the direct effect of dispositional and state hope on the subjective well-being of students, showed a good fit. Correspondingly, model 2, which was designed to investigate the relation between hope and subjective well-being with additional variables (such as gender, age, accommodation, income, physical handicap, health problems, being in a relationship, satisfaction of friendship) also showed a good fit with the variables.