Objective: Subjective cognitive decline (SCD) is defined as a self-reported perception of cognitive decline that occurs without clear objective signs of cognitive impairment. There is still uncertainty in the literature about the reliability of SCD as an accurate indicator of the early stages of major neurocognitive disorders. Furthermore, objectifying cognitive impairment in SCD is difficult, mainly due to the insensitivity of the assessment instruments. The main objective of this study was to investigate the potential contribution of the face-name associative recognition test (FNART) to the objective identification of memory impairment in SCD. Method: A research sample of 69 adults with SCD and 69 healthy controls (HCs) recruited in the community were administered in the FNART, which included 32 photographs of neutral faces associated with 32 first names. Results: The total score of the HC group in the FNART was significantly better than that of the SCD group. Moreover, analyses based on the serial position of the stimuli showed that the SCD group performed significantly worse than the HC group only for the middle items (stimuli placed at the beginning or end of learning lists are more likely to be recalled than those presented in the middle), while no primacy and recency effects were found in the HCs. Conclusions: These findings indicate that associative episodic memory is more vulnerable in individuals with subjective cognitive decline (SCD) compared to those without cognitive complaints. Additionally, they suggest that the FNART may be effective in identifying cognitive decline in the preclinical stage of Alzheimer’s disease.