The aim of the research was to examine the quality of adolescents' lives in order to assess how much it serves the purpose of effective lifelong education. The sample consisted of 220 pupils from the first to the fourth grade of secondary school on the territory of Serbia. The quality of life of the respondents was assessed by means of a questionnaire on the quality of life--PedsQL™. The following was examined: Emotional, Social and Physical functioning. The results of the research showed a high level of life quality related to the aspects of physical functioning and social functioning, while emotional functioning is marked as a dimension with a lower degree of quality. Factor analysis revealed six relatively independent factors. The results indicate that the quality of students' life is still not at an enviable level and that it is important to work systematically in this field.