The aim of this study was to examine the relationship between musical taste and emotional well-being. A total of 150 participants took part in the study, all of them being students from the Faculty of Humanities and Social Sciences in Split. Following instruments were applied: General Data Questionnaire, Music Preferences Questionnaire (Habe, Dobrota and Reić Ercegovac, 2018), Subjective happiness scale (Lyubomirsky and Lepper, 1999), and Positive and Negative Affect Schedule, Watson and Clark, 1988). The results showed significant differences between the musical taste dimensions (N = 150, df = 4, Friedman Anova = 235.83; p = .000). The participants mostly preferred musical styles within the energetic-rhythmic dimension, followed by the music of the region, reflexive-complex music, and intense-rebellious, while the least preferred musical style was contemporary and traditional ethno music. The negative affect was negatively associated with the preference of genres belonging to the music of the region, while a positive correlation has been established between the negative affect and the energetically-rhythmic dimension of musical taste. Preferences for other musical dimensions did not seem to be related to the measures of emotional well-being. As expected, positive and negative were negatively related, while subjective happiness was positively related to positive affect.