Abstract: The study investigated the impact of health and socio-economic factors on happiness and life satisfaction. Towards this end, a single questionnaire tagged "Happiness and Life Satisfaction Assessment Questionnaire (HALSAQ) was used as the major instrument for the study. A descriptive survey research design was adopted for the study and two hypotheses were tested, using the statistical tests of Analysis of Variance (ANOVA), Multiple Regression and Partial Correlation. The study established, among others, that there was no significant impact of health on happiness and life satisfaction, but that socio-economic factors had significant impact on happiness and life satisfaction. Based on the above findings, some recommendations were made, among which are that every person should strive to make him or herself happy, becomes educated, live a comfortable life, always remain healthy, engage in leisure activities and establish a small-scale business or find a good job to earn a living.