This study aims to identify the mediation function of the variables of positive emotions, self-esteem, interpersonal relationships, and social support between emotional intelligence and life satisfaction. This is the first study that analyzed, with Latin-American population, the mediating effect of these variables in a simultaneous manner. The sample was comprised by 417 Mexican youth, ages between 18 and 21 years old, that completed the TMMS-24 scale and some subtests of the WHOQOL100. The results of the structural equation modeling showed that emotional clarity plays a predictive role over positive emotions and self-esteem, while emotional repair influences positive emotions and a greater satisfaction with interpersonal relationships. In the same manner, positive emotions, self-esteem, and interpersonal relationships together are those that contribute with 50% of the variance for life satisfaction.