Protecting the environment and enjoying a high quality of life are two pursuits often viewed as being in conflict with each other, although this assumption is largely based on conventional wisdom rather than science. In the last decade the relationship between them has received increasing attention from researchers, and there has been published a number of studies investigating it. In this article, we investigate the relationship between green behaviour (GB) and subjective well-being (SWB) by reviewing the existing empirical literature on the subject. The article is divided into two reviews. In the first review we examine studies investigating the relationship between GB and SWB directly and identify variables that may explain the relationship. In the second review we examine studies that investigate relations between each of these variables and GB or SWB. Contrary to conventional wisdom, the overall finding is a positive relationship between GB and SWB, and this relationship is partially mediated by value orientation and mindfulness. Additionally, connection to nature is positively related to both GB and SWB.