As a part of the European Statistical System, a general concept of measuring the quality of life was presented, defining its dimensions and partial indicators. The methodological objective of the study is to operationalize the measurement of subjective well-being(SW-B). The proposed method of measuring SW-B is based on the above concept, while incorporating the Sen’s capabilities approach. The operationalization was performed using the MIMIC model. This model incorporates both observable functionings (SW-B indicators) and sociodemographic characteristics of individuals (conversion factors). The two sets of variables are linked through the latent capabilities, which are interpreted as the SW-B measures. Empirical analysis of the SW-B in Poland in 2015 was conducted using EU-SILC data. Characteristics influencing the SW-B were identified. The SW-B depends mostly on self-perceived health and material deprivation. Moreover, higher values of SW-B were observed for those who work, have 1–2 children and are highly educated.