This study aimed to provide information on the role that online sociability plays in subjective well-being of university students, online self-disclosure, and the quality of their friendships. There is a lack of research on online self-disclosure on Facebook. Few researchers have used honesty, intent, and positive valence as individual constructs, rather than as separate decision variables, a gap which this study aims to fill. The objective of the study was to determine the relationship between online sociability, online self-disclosure, the quality of their friendships, and the well-being of the subjects in South Africa. A quantitative data collection method was used. Data were collected through a web-based survey using structured questionnaires. A theoretical framework was evaluated by means of data collected from university students (n = 460). The results show that online sociability was negatively related to the quality of their friendships. In addition, online self-disclosure was a significant predictor of the quality of users’ friendships and their subjective well-being. There was also a significant relationship between the users’ quality of their friendships and their subjective well-being. The results have been collated in a comprehensive model, which could offer guidelines to university students and South African society.