This paper focuses on the tangled web of obesity and exercise as it relates to subjective well-being. Many overweight individuals have low levels of subjective well-being as a reflection of "anti-fat" biases and sociocultural considerations. Since exercise helps balance the energy intake-output equation and is associated with mood benefits, improved self-concept and self-esteem, and decreased stress levels, it is an ideal approach for interrupting the inactivity-obesity cycle. To facilitate exercise success in obese populations, however, it is important to change the perception of exercise from "should" to "want," based on the positive psychology model. The paper concludes with a consideration of exercise enjoyment, mode, and training guidelines, which may influence the psychological benefits of physical activity and exercise adherence in overweight individuals. (Contains 4 figures and 1 table.)