The aim of this study was to evaluate the association between positive competences, such as emotion regulation, proactive coping and prosocial behavior, and Colombian adolescents' perception of their well-being and life satisfaction. Through a convenience sample, 930 7th and 9th grade adolescents attending 11 public and private schools in 2 main cities of Colombia answered to a set of scales that evaluate proactive coping, emotion regulation, prosocial behavior, perceived life satisfaction and well-being. Multiple linear regression analyses were conducted to evaluate models for adolescents' well-being and life satisfaction, with the positive competences taken as predictive variables. The model that showed the best fit and accounted for the greatest amount of variance in adolescents' well-being and life satisfaction included 2 dimensions of proactive coping (positive and social), emotion regulation and prosocial behavior. Recommendations for future research and the development of intervention programs to promote adolescents' well-being are presented.