The positive results of life satisfaction among university students have been well studied in the literature. However, the forecasters of the phenomenon have not been thoroughly investigated. In the current study, multiple models were tested to investigate the mediating role of perceived stress in the relationships between virtues and life satisfaction to fill this gap. When testing the model, the effect of demographic variables was controlled. Data were collected through an online survey from a sample of 235 undergraduates. The participants responded to measures of character strengths, perceived stress, and life satisfaction. The findings reveal that perceived stress partially mediates the relationship between leadership, wisdom and life satisfaction controlling for age and gender. The leadership skills of students can be improved, and age and gender should be considered when studying life satisfaction.