Background <p>Disability poses significant challenges to subjective well-being (SWB), yet many individuals with physical disabilities report unexpectedly high levels of life satisfaction—a phenomenon known as the disability paradox. While quantitative research has identified correlates such as social support and psychological capital, these studies often rely on cross-sectional surveys that capture group trends but fail to illuminate the dynamic, narrative processes through which SWB emerges over the life course, particularly in collectivistic cultures like China where relational and cultural factors may uniquely shape adaptation.</p> Methods <p>This study utilized a mixed-methods approach, employing life tone and life theme analyses within a life story interview framework, supplemented by grounded theory coding procedures. We conducted a qualitative analysis of narratives from 35 Chinese adults with physical disabilities, who also completed psychometric measures of subjective well-being (SWB), social support, and psychological capital. To enhance findings' robustness, we quantitized narrative indicators and performed triangulation by conducting statistical correlation analyses between these narrative metrics and questionnaire scores within the primary sample (<i>N</i> = 35).</p> Results <p>The results indicate: (1) The factors influencing SWB among individuals with physical disabilities primarily consist of four dimensions: family establishment, life experiences, social support, and self-personality; (2) Although the overall emotional tone among Chinese individuals with physical disabilities leans toward negativity, the overall personality tone exhibits a positive orientation, with the frequency of positive emotional words surpassing negative ones starting from mid-adulthood; (3) Life theme analysis demonstrates that relational themes predominate in the narratives, with interpersonal relationships serving as a central pathway for meaning reconstruction and the generation of subjective well-being; and (4) Significant associations were observed between social support, psychological capital, and the emotional and personality features in the narratives, indicating the joint involvement of internal and external resources in shaping SWB among individuals with physical disabilities.</p> Conclusions <p>In summary, this study, grounded in a localized narrative perspective across the full life course, elucidates the factors influencing SWB among Chinese individuals with physical disabilities and their cultural specificity, particularly emphasizing the key role of relational factors in fostering resilience and meaning construction within a collectivistic value framework.</p>