This study aimed to longitudinally characterize subjective well-being (SWB; life satisfaction, positive and negative affect) profiles of street-involved youth, verifying how the different groups differ in sociodemographic variables (e.g., age, gender, contact intensity with family and street), stressful events (number and impact) and health-risk behaviors (i.e., suicidality, sexual risk, drug use). Participants were 104 young people (M = 14.22 years, SD = 2.4), from three Brazilian capitals, most (82%) were boys. Cluster analysis identified three groups: average SWB (n = 56); positive SWB (n = 21); and negative SWB (n = 27). The positive SWB group is made up of younger youth with lower levels of health-risk behaviors and stronger family ties. Results corroborated prior studies identifying SWB as an important health indicator, emphasizing the importance of promoting SWB to reduce the risks that undermine development.