Abstract: The structural equation model is established and tested about the influence factors on the city residents' subjective well-being. The model shows how the social capital effects on the city residents' subjective well-being through the mediation variables including the social economic status and the social governance satisfaction. The Chinese General Social Survey dataset(CGSS2015) is used to verify the model. The results show that: (1)The social network, the social trust, the social economic status and the social governance satisfaction positively effect the subjective well-being. But, the social norms have a suppressive effect on the subjective well-being.(2)The social network, the social trust and the social economic status have a positive impact on the satisfaction of social governance.(3)The social trust positively effects the social and economic status.(4)The social trust indirectly effects the subjective well-being through the mediation variable of the social economic status, and the social network and the social trust indirectly effect the subjective well-being through the mediation variable of the satisfaction of social governance.