There is a growing body of research investigating the relationships among gratitude, self-esteem, and subjective well-being. However, there remains a scarcity of research examining the impact of self-esteem on the relationship between gratitude and subjective well-being within Arabic context. In this study, 300 Arabic speaking adults completed measurements of gratitude, self-esteem, satisfaction with life, and positive and negative experiences. Participants’ ages ranged between 18 and 54 years with a mean age of 29.67 years (SD = 8.91). The correlation results revealed that there were significant positive relationships between gratitude, self-esteem, satisfaction with life, and positive experience, while there were significant negative relationships between gratitude, self-esteem, satisfaction with life, and negative experience. The results also showed that gratitude and self-esteem directly predicted subjective well-being. Additionally, using structural equation modeling, self-esteem exerted a mediation effect on the relationship between gratitude and subjective well-being. The results suggest that enhancing self-esteem could assist adults who have gratitude to experience greater subjective well-being. Using the source of self-esteem, researchers and professionals could improve one’s subjective wellbeing by employing various gratitude activities.