The factorial invariance of the Multidimensional Students' Life Satisfaction Scale (MSLSS: Huebner, 1994) across two divergent cultures (collectivistic vs.individualistic) was investigated with 835 Korean and 822 US students in elementary, middle, and high schools. Psychometric properties of the Korean version of the MSLSS were acceptable. A series of multisample-confirmatory factor analyses (MCFA) demonstrated the cross-cultural similarity of the five-factor model for students' life satisfaction. The similar structure of MSLSS across cultural groups provides the basis for meaningful international comparisons of life satisfaction among children and adolescents. Further cross-cultural research including various culturally sensitive life satisfaction domains may enhance understanding of cultural differences in the structure, correlates, and consequences related to students' life satisfaction.