The aim of this study was to determine whether or not social problem solving by university students predicts their self-esteem and life satisfaction. The survey model was adopted and the sample of the study consisted of 405 university students. The results of the study showed that self-esteem and life satisfaction are positively correlated with positive problem orientation and rational problem solving; they are negatively correlated with negative problem orientation, impulsivity/carelessness, and avoidance styles. The results also showed that negative problem orientation, positive problem orientation, and avoidance style significantly predicted self-esteem. In addition, rational problem solving, positive problem orientation, and avoidance style significantly predicted life satisfaction.