Consumers' purchasing behaviors are divided into two as hedonic and functional (utilitarian). In functional consumption, while people buy a product or service because of its functional characteristics, the reason for purchasing hedonic consumption can be varied and context-dependent. Some of these are the realization of personal pleasure, the pursuit of experience, individual image and construction of the self, social status etc. The main purpose of this research is to investigate the variables that affect the formation of hedonic consumer values and the effects of these values on people's life satisfaction, selfactualization and subjective happiness. This study employed structural equation modeling to test the hypotheses of the proposed research model. The suitability of the model and research hypotheses were tested through the observed variables. Convenience sampling method was used as the sampling method due to the limited study budget and time limitations. In the research, the data were collected online through a survey method. A total of 409 people participated in the survey, and the data collected from 394 people in total were analyzed when surveys that were incomplete or contained inappropriate responses were excluded from the analysis. As a result, it has been observed that the proposed theoretical model works in harmony with the data. The internal consistency and construct and conformity validity of the scales are at the desired level. The proposed theoretical model has been accepted and the effects of hedonic consumer values on the subjective happiness of individuals are explained.