The current study investigated the influence of religiosity to the subjective well-being (SWB) of Filipino college students through the mediation of self-regulation. One hundred seventy-eight Muslim students and 348 Catholic students from two cities in the Philippines answered three instruments that measured religiosity, SWB and self-regulation. Multiple regression analyses showed that for both groups, religiosity significantly predicted subjective well-being (Muslim, β = .38, p < .001; Catholic, β = .26, p < .001) and self-regulation (Muslim, β = .33, p < .001; Catholic, β = .15, p < .001). Self-regulation significantly mediated the relationship between religiosity and SWB in both the Catholic group (Z=2.20, p,.05), and the Muslim group (Z=3.42, p,.05), confirming that religiosity may facilitate the development of non-religious competencies which contribute to SWB. Implications for interventions are discussed, and recommendations are also forwarded.