Research on work life and job satisfaction of university professors is becoming an important research issue in the field of higher education. This study used questionnaires administered to 1 770 teachers from different levels, types, and academic fields of Chinese universities to investigate job satisfaction among university professors and the relationship between job satisfaction of university professors and the organizational characteristics of the university. The job satisfaction of Chinese university professors includes six dimensions: career development and school management, teaching and research services, salary, benefits and logistical services, professional reputation, teaching and research facilities, and the work itself. The overall job satisfaction levels are close to average, with salary and benefits receiving the lowest level of satisfaction. The organizational characteristics of universities, such as school type, school level, academic field, organizational climate, evaluation orientation, and school management, all have significant effects on the overall job satisfaction of university professors. The organizational climate and school level affect all six dimensions of job satisfaction among university professors.