Background: There exists a scarcity of comprehensive studies on educational campuses, which integrate the effects of built environment satisfaction, university life experiences, and personal characteristics on QoL. The study’s main research problem is to investigate the extent, direction, and sequence of the influence of university life satisfaction (encompassing academic, social, and administrative perception)—as well as the university’s built environment of university (including both indoor and outdoor attributes of educational, social, recreational, and residential settings), in conjunction with student characteristics—on students’ QoL and the interactions among these factors. Aim: The main objective is to comprehensively analyze the impact and dominance of the built environment and various dimensions of university life, in addition to personal variables on student QoL, and explore the interaction between them. The sub-aims are to determine the dimensions that have the greatest effect on QoL and to make comparisons between them. Methodology: In line with the aim, a specific index for measuring student QoL on a university campus was developed, and a survey was conducted using a questionnaire developed based on the index. The case study is made in Bursa Uludag University, one of the oldest universities in Bursa, Turkey, which is known for being included in the UNESCO World Heritage List. Data were recorded and analyzed by utilizing statistical analyses via SPSS (statistical package for social sciences) for Windows 22 and IBM AMOS 24.0 programs. Results: The data collected from the evaluation of questionnaires administered to 685 participants reveal that the sub-dimensions with the most-to-least impact on students’ QoL are satisfaction with campus life, education spaces, academic development, socio-physical amenities, social perception, administrative management, accessibility, transportation, and accommodation. Conclusions: QoL is a multidimensional judgment through which university students’ QOL perceptions are affected through the interaction between the university’s built environment, university life, individual characteristics, as well as administrative management.