This study investigated whether gratitude and forgiveness contribute to subjective well-being (life satisfaction, positive affect, and negative affect) above the contribution of the three orientations to happiness in a sample of 143 Hong Kong Chinese teachers. Gratitude and forgiveness correlated substantially and significantly with each other, with the meaningful-life orientation, and with subjective well-being. They explained a substantial amount of variance in the prediction of subjective well-being above orientations to happiness. These findings and the notable contribution of forgiveness to negative affect were discussed in the context of developing effective positive interventions for enhancement of subjective well-being among teachers. (Contains 2 tables.)