Based on the findings of the joint UN-Government nationwide survey (Socio-Economic Impact Assessment) conducted with 4292 individuals through a nationally representative face-to-face interviews between July and September 2021, the paper explores the levels of subjective well-being by different socio-economic determinants. The paper finds the implications of COVID-19 on subjective well-being in Timor-Leste were mixed. Since the COVID-19 State of Emergency declared in March 2020, overall life satisfaction was relatively high among all respondents yet satisfaction with health and feeling part of the community was lower. Majority of the respondents felt positive affect yet there were significant differences in terms of happiness based on various socio-economic background of the respondents.