The article presents an overview of modern theories of subjective quality of life. In psychological studies the quality of life is normally studied from three different perspectives: related to the needs, development and values. The central idea of the needs-approach is the following: the subjective quality of life depends on the degree of satisfaction of individual needs. The development-approach shows the relevance of the human desire for self-realization and achievement of the latter as one of the necessary conditions for increasing the level of psychological quality of life. The needs-approach is associated with the consideration of the subjective quality of life from the standpoint of compliance with the real life of the individual and his value orientations.