Abstract: Based on the 2017 China General Social Survey (CGSS) data and using the Oprobit model, an empirical study is conducted of the effect of democratic participation on rural residents' subjective well-being and the heterogeneity analysis is carried out to explore the moderating role of perceived social equity conducts. The results show that democratic participation significantly enhances the subjective well-being of rural residents and passes the robustness test and endogeneity test. Social equity perceptions play a moderating role in the effect of democratic participation on the subjective well-being of rural residents, and the positive impact of democratic participation on the subjective well-being of rural residents is weakened by perceptions of very unfair society. Only when the perception of social equity is greater than 1.509 can the effect of democratic participation on the subjective well-being of rural residents be effectively enhanced. Compared with rural male residents, the democratic participation of rural female residents significantly enhances their subjective well-being. The effect of democratic participation on the enhancement of subjective well-being of rural residents in the eastern region is slightly higher than that in the central and western regions. It is important to recognize the importance of democratic participation in rural areas to enhance the residents' subjective well-being and respect the main status and participation demand of rural residents, to improve the infrastructure facilities in rural areas and create a fair and just social atmosphere, to pay attention to the role of rural female residents in democratic participation and improve the ability and level of female democratic participation, and to promote the exchange of spiritual civilization construction activities between the eastern, central and western regions by strengthening the construction of democratic participation platforms in the west and central regions and broadening the channels of democratic participation in the western areas.