This study examines the relation of mother - daughter relationship to an adult daughter’s self- esteem and life satisfaction. 426 university students with a mean age of 21.62 (SD= 2.35) participated in the study. Adult Mother - Daughter Questionnaire, the Rosenberg Self-Esteem Scale and the Satisfaction with Life Scale were administered. The canonical correlation analysis revealed that three indicators of mother - daughter relationship (connectedness, interdependency, and trust in hierarchy) and the two indicators of well-being (self-esteem and life satisfaction) were significantly interrelated. In addition, the multiple regression analysis showed that connectedness has the strongest relationship with both life satisfactions, and self-esteem whereas interdependency was found to be negatively correlated with self- esteem only. The results were discussed in the light of the related literature.