The influencing factors of subjective wellbeing have been paid much more attention by scholars in positive psychology. This study tested the hypothesis that individuals can proactively manage their own energetic, affective, and cognitive resources in order to boost subjective wellbeing. Drawing on conservation of resources theory, we propose a theoretical model in which proactive vitality management is positively related with positive emotion and with subjective wellbeing, and examine the boundary conditions of this process. In order to verify the above mediated moderation model, a multiwave field study and a scenario-based experiment study were conducted. In study 1, participants were 380 university students from various majors who filled out a background questionnaire and three weekly surveys. In study 2, we used the method of situational experiment to explore the direct effect between proactive vitality management and subjective wellbeing. The results indicated that proactive vitality management had an direct effect on subjective wellbeing and an indirect effect on subjective wellbeing through the mediating role of positive emotion. Our study also revealed that school support strengthened the link between proactive vitality management and subjective wellbeing. The theoretical contributions and practical implications are also discussed