A growing body of research focuses on the concept and assessment of emotional competence due to the positive impact on positive youth development such as well-being. The Emotional Skills and Competences Questionnaire (ESCQ) has shown good psychometric properties in a cross-cultural setting. This study provides further evidence of the factorial structure of ESCQ using a new short version of 21 items. A total of 1300 students aged 12 to 15 years (M= 13.47, SD= 1.09) completed the original version of the ESCQ translated into Spanish. Data on emotional intelligence (TMMS-24), satisfaction with life (SWLS) and positive and negative effects (SPANE) were collected. Factor analysis confirmed the trifactorial structure of the reduced version (ESCQ-21), presenting adequate reliability indexes for each factor. Results provided evidence for construct validity and criterion validity. The ESCQ-21 factors were positively associated with the dimensions of TMMS-24, and predict subjective well-being (SWLS and SPANE). The ESCQ-21 appears to be an adequate evaluation tool to understand better how emotional skills may affect adolescent’s subjective well-being.