This study explores the complex relationships among emotional and behavioral problems, self-esteem, subjective well-being, school satisfaction, and depression in adolescents. We conducted a comprehensive survey of 958 students aged 9-15 using self-report questionnaires covering emotional and behavioral problems, self-esteem, subjective well-being, school satisfaction, and a depression symptom self-assessment scale. "The results reveal" significant positive correlations between self-esteem, subjective well-being, and school satisfaction, and significant negative correlations between these factors and both emotional and behavioral problems and depression. Further analysis "identified" self-esteem as "both" a parallel and sequential mediator between emotional and behavioral problems and depression, with the multiple mediation effect accounting for 28.23% of the total impact. Additionally, school satisfaction "moderates" the mediation process by influencing the relationship between self-esteem and subjective well-being, "thereby mitigating" the effect of subjective well-being on depression. These findings highlight the importance of enhancing self-esteem, fostering a positive school atmosphere, and improving adolescents' subjective well-being to reduce the risk of depression.