This study aims to explore the relationship between life stress and subjective well-being among college students, while examining the moderating influence of self-compassion. The College Student Life Stress Scale, Subjective Well-Being Scale, and Chinese version of the Self-Compassion Scale were utilized as measurement tools. A total of 328 valid responses were collected from domestic college students aged 18 to 24 via online questionnaires. Data analysis was conducted using statistical methods including descriptive statistics and hierarchical regression analysis. The results indicate a negative relationship between life stress and subjective well-being among college students, as well as a positive relationship between self-compassion and subjective well-being, providing support for Hypotheses 1 and 2. Additionally, the study investigated the moderating effect of self-compassion on the relationship between life stress and subjective well-being. The findings reveal that "self-judgment" and "isolation" within self-compassion significantly moderate this relationship, while "self-kindness," "common-humanity," "mindfulness," and "over-identification" do not exhibit moderating effects, thus partially supporting Hypothesis 3. Based on these results, practical implications and recommendations for future research and university counseling services are discussed.