Using 2008 Afrobarometer survey data, we examine the relationship between religion and subjective well-being (SWB) in Ghana, as well as religious group differences in their experiences of SWB. Two measures of religion--religious affiliation and religious importance, and two measures of SWB--absolute SWB (own perceived living conditions) and relative SWB (own living conditions compared to those of other Ghanaians) are employed in this study. Results show that religious affiliation is significantly related to both measures of SWB although associations depicted for such relationships were not strong. Religious importance significantly related to relative SWB only (with a weak-to-moderate association). Significant religious affiliation and religious importance group differences are found on both SWB outcomes via non-parametric test procedures (Kruskal-Wallis H test, followed by post hoc tests). On balance, the None/Traditional religious group experienced less favorable SWB than Other Christian, Evangelical/Pentecostal, and Muslim groups, especially for absolute SWB, while the None/Traditional group experienced particularly less favorable relative SWB than the Protestant group. Religious importance groups also significantly differed in such a way that the group that considered religion very important had more favorable experiences of both types of SWB than the group that considered religion not at all/not very important. Other significant differences on both outcomes are found among ethnic, educational, and regional groups. In view of the findings, the study contributes to SWB research and suggests policy implications.