Young adult phase of life represents the new transition from adolescence to adulthood as one goes through several changes within. The present research aims to study the role of one’s own self-worth (self-esteem) and belief in one’s ability (self-efficacy) on the overall life-satisfaction in young adults. Quantitative research study design was used and a sample of 84 young adults was drawn using random sampling technique. The mean age of the sample was 22.13 years (SD=0.99). Three scales were used in the present study, that is, satisfaction with life scale by Diener et al. (1985), self-esteem scale by Rosenberg (1979), and generalized self-efficacy scale by Schwarzer and Jerusalem (1995). Data were coded using SPSS and statistical analyses were performed. Findings reveal that male young adults have greater life satisfaction (M Male= 20.45, M Female=20.31), self-esteem (M Male= 27.10, M Female=25.78) and self-efficacy (M Male= 29.10, M Female=28.71) than female young adults. Pearson’s product-moment correlation analysis revealed that life satisfaction was found to have significant, positive relationship with self-esteem (r=0.37, p<.01) and self-efficacy (r=0.31, p<.01). Furthermore, multiple regression analysis revealed that self-esteem and self-efficacy explain 18.9% of the variation in life-satisfaction among young adults as self-esteem (β=.46, p<.001) and self-efficacy (β=.26, p<.01) significantly and positively predicted life-satisfaction. The present findings confirmed the significant role of self-esteem and self-efficacy on life-satisfaction.