Agency and communion are considered as two fundamental dimensions of social cognition. Agency is related to self-expressions and the pursuit of goals, while communion is related to social relations, such as kindness and honesty, and those that are related with moral judgments. Agency and communion play great roles in people’ cognition, affect experience and behavior. Studies have revealed that agency and communion would bring about significant positive impacts on mental health and life satisfaction, and are also closely related with the development of children’s self-esteem. What’s more, a good experience of subjective well-being is also one of the major desirable outcomes of positive agency and communion. Research documented that agency and communion significantly predicted subjective well-being, and subjective well-being increased with the increasing levels of agency and communion. Prior studies have focused mainly on the direct associations between agency, communion and subjective well-being. However, little is known about the underlying mediating mechanism (i.e. how agency and communion influence subjective well-being). To address this gap, the present study constructed a mediation model based on the Dual Perspective Model (DPM) and the adaptive mechanisms, to examine the effects of agency and communion on subjective well-being under the background of a large sample of Chinese subjects. Specifically, the present study would examine the mediating role of future time perspective (FTP), a relatively stable trait that reflects a general future orientation and plays an important role in dominating the individuals’ behaviors by striving for future goals and rewards, in the relation between agency, communion and subjective well-being. A sample of 4071 people completed a battery of self-report questionnaires measuring their agency and communion, subjective well-being and FTP. All the measures showed good reliability and validity in the present study. Data were analyzed using SPSS 22.0. The results were as follows: (1) agency and communion had significant positive correlations with FTP and subjective well-being (p<.01); and FTP had a significant positive relation with subjective well-being (p<.01); (2) After controlling for gender, age, education, marriage, yearly family income and social class, agency (β=.237, p<.001) and communion (β=.079, p<.05) significantly exerted direct effects on subjective well-being; and FTP (β=.405, p<.001) significantly exerted a direct effect on subjective well-being. (3) After controlling for gender, age, education, marriage, yearly family income and social class, agency (β=.054) and communion (β=.008) significantly exerted indirect effects on subjective well-being through the mediation of FTP. These results indicated that FTP served as a mediator effect between agency, communion and subjective well-being. The present study explores the direct effect size of agency and communion on subjective well-being based on the Dual Perspective Model, and highlights the mediating role of FTP in the effect of agency and communion on subjective well-being. It may contribute to a better understanding of the effects as well as its paths and conditions of agency and communion on subjective well-being. Moreover, it can also provide constructive suggestions for protecting and improving FTP and subjective well-being in the new era.