Objective: Subjective wellbeing is a personal experience that points at high levels of positive ‎affections and life satisfaction. The relationship between happiness and life goals with subjective wellbeing provides useful insight into the prerequisites of wellbeing. This ‎study aimed to determine the role of orientation to happiness and life goals in predicting subjective ‎wellbeing.‎ 
Methods: Using a cluster sampling method, 285 ‎students were selected studying at first- and second-year of education at Tehran University of Medical Sciences ‎during 2016-2017. The participants responded to the questionnaires of life satisfaction, positive and ‎negative affections, orientation to happiness, and life goals. The obtained data were analyzed using ‎canonical correlation model.‎ 
Results: Four significant canonical functions were identified. The first function showed that ‎the orientation to meaning and engagement was associated with a high level of life satisfaction and ‎wellbeing. The second function revealed that the orientation to pleasure was used along with positive and ‎negative emotions. The third function showed that the intrinsic goals were in line with higher life satisfaction. The ‎last function indicated a direct relationship between extrinsic goals with positive and negative ‎affections.‎ 
Conclusion: Orientation to meaning and engagement as well as the development of intrinsic goals ‎increases the level of life satisfaction and results in wellbeing.