Leadership style is the general way a leader behaves towards his subordinates for attaining objectives. There are two major dimensions of leadership i.e. transformational leadership and transactional leadership. The objective of the present study was to find out the relationship between leadership styles of principals and job satisfaction of college teachers. In this connection, survey research method was used.The population for this study comprised all teachers of public degree colleges of Punjab (One of the provinces of Pakistan). By using random sampling technique 10% of the colleges were taken as sample. There were 43 colleges excluding the mixed colleges and from sample colleges five teachers from each college were selected as sample. For collecting data from teachers two questionnaires were used.One questionnaire was used by the researchers for teachers to rate leadership styles of their heads. This questionnaire was based upon seven indicators. The first four variables dealt with the transformational leadership style and last three variables dealt with the transactional leadership style. The second questionnaire (MSQ) was adopted to know job satisfaction of teachers.Pearson r and t-test were used to analyze the data. The findings of the study show that there is a significant relationship between leadership style and job satisfaction. Relationship among transformational leadership style, transactional leadership style and job satisfaction exist. However, there is a significant relationship between transformational leadership style and job satisfaction.