This article describes the socio-demographic characteristics of a sample of gay men in three cities in Chile, as well as experience with homophobia and subjective well-being. Snowball sampling was used to interview 325 gay men. The main findings included high levels of perceived discrimination and victimization, but interviewees reported higher levels of social well-being compared to studies elsewhere in the country. Age was related to differences in levels of social well-being, but not other variables. Individuals with university education reported higher levels of victimization and greater impact of discrimination on their lives. Gay men in Santiago reported a higher relative impact from incidents of aggression, but better levels of social well-being and happiness compared to those in other regions of Chile.