Materialism, defined as a focus on the acquisition and possession of material objects, is described as an essential component of the social value system of societies (Burroughs and Rindfleisch 2002). Previous research appears to paint a uniformed portrait of materialism, suggesting that it has universally negative consequences for one’s pursuit of happiness. In the current research, we argue that culture has a significant moderating role in how materialism affects individuals’ subjective well-being. Specifically, we discuss and explore how American and Chinese cultures differ in the cultured interpretations of materialistic values and how this might lead to a culturally bound relationship between materialism and subjective well-being.