The primary goal of the current study was to investigate the mediator and moderator effects of subjective happiness on the relationship between forgiveness and vengeance in Turkish university students. A questionnaire containing the Turkish version of Vengeance Scale, Subjective Happiness Scale, and Forgiveness Scale were completed by 298 university students, between the ages of 18 and 24. Hierarchical regression analysis indicated that subjective happiness partially mediated the relationship between vengeance and forgiveness. However, subjective happiness did not moderate the relationship between vengeance and forgiveness. Furthermore, results have shown that subjective happiness and forgiveness were negatively related to vengeance. Limitations of the study are considered and the significance of results is discussed.