This study examined the impact of native youth's subjective well-being on exclusionary attitudes toward immigrants, seeking to understand the relationship between subjective well-being, political distrust, and anti-immigrant attitudes over time. Using longitudinal data, we followed three cohorts of native young adults (N = 1352; Mage = 22.72, SD = 3.1) in Sweden over a period of 2 years. The results showed that subjective well-being did not predict an increase in anti-immigrant attitudes among native youth, but anti-immigrant attitudes had a significant impact on subjective well-being. The data also found bidirectional and mutually reinforcing relationships between subjective well-being and political distrust, and between political distrust and anti-immigrant attitudes. These results highlight that improving young adults' subjective well-being represents an important basis for preventing the development of political distrust, which in turn could reduce native youth's susceptibility to adopt hostile attitudes toward immigrants.