Using data from the 2006 Chinese General Social Survey (N = 2,515), we examine the relationship between parental status and subjective well-being among Chinese adults who are in their first marriages. After accounting for background characteristics, parents and childless individuals do not report significantly different feelings of well-being. When parental status is disaggregated according to family structure, parents of adult children only report higher levels of subjective well-being than both parents of minor children and the childless. The number of daughters is positively associated with feelings of well-being. Furthermore, the effects of coresiding with adult children appear to depend on whether one has minor children in the household. Coresident adult children are positively associated with well-being when minor children are also present but are negatively associated with well-being when minor children are not present.