Purpose: In this study an exploration was done of the quality of lives of patients with schizophrenia in South Korea and factors related to quality of life, and to develop a model that predicts the quality of their lives. Methods: The participants were 225 patients with schizophrenia, aged 18 and above, residing in Seoul and Gyeonggi-Province. Collected data was analyzed using SAS 9.3 and AMOS 18.0. Results: Social support and psychological well-being were the two factors that most affected the quality of life in patients with schizophrenia. Symptoms, empowerment, and internalized stigma were not found to influence the quality of the patients`` lives. However, symptoms, social support, empowerment, internalized stigma affected the patients`` psychological well-being, and psychological well-being was identified as an influential variable for quality of life in patients with schizophrenia. Therefore, symptoms, social support, empowerment, and internalized stigma are influential to the patients`` quality of lives through psychological well-being. Conclusion: These results suggest that the quality of life in patients with schizophrenia should be examined through the variable of psychological well-being as many variables related to the patients`` quality of life affect psychological well-being.