Background <p>This longitudinal study explores the associations between negative and positive life events and with depressive symptoms, considering the mediating roles of hope, life satisfaction, and subjective happiness.</p> Methods <p>Utilizing data from the International Wellbeing Study, 851 participants from 48 countries completed five consecutive waves of data collection over one year. The study hypothesized that life events would predict hope, satisfaction with life, subjective happiness, and depressive symptoms at subsequent times, with hope, subjective wellbeing, and life satisfaction potentially mediating these relationships.</p> Results <p>Results indicated that negative life events negatively predicted hope, subjective happiness, satisfaction with life, and increased depressive symptoms. Conversely, positive life events were indirectly associated with depressive symptoms through increased hope, subjective happiness, and satisfaction with life. Hope and wellbeing (life satisfaction, happiness) were found to mediate the relationship between life events and depressive symptoms, providing insights into protective factors that mitigate the adverse impacts of negative life events and enhance the benefits of positive life events on mental health.</p> Conclusions <p>These findings stress the importance of interventions aimed at fostering hope and wellbeing to alleviate the effects of life stressors on mental health.</p>