This research is a descriptive study based on the testing of a structural model developed by considering the effects of perceived social support and subjective well-being on adolescents’ risky behaviors, and the possible mediating role of self-esteem. Participants consisted of 676 high school students attending formal education institutions, including 376 girls and 300 boys. Data collection employed the use of the Coopersmith Self-Esteem Inventory-Short Form, Risky Behaviors Scale, Social Support Rating Scale for Children and Adolescents, Subjective Well-being Scale, and a personal information form. LISREL 8.51 software was used in the establishment of the structural model, and analyses revealed sufficient levels of model-data fit indices. Accordingly, subjective well-being and perceived social support, together with the mediating effect of self-esteem, explained 29% of the variation in risky behaviors.