This study focused on life satisfaction among patients with social anxiety disorder (SAD) and examined factors associated with gains in life satisfaction following cognitive-behavioral group therapy (CBGT). A sample of 121 patients with social anxiety disorder undergoing cognitive-behavioral group therapy was assessed in terms of domain-specific life satisfaction (FLZ) and symptomatology at baseline, posttreatment and 3-month follow-up. At baseline, patients showed decreased mean scores for life satisfaction especially in domains requiring social competence (friends, partnership, and family). Life satisfaction increased significantly in the course of CBGT and remained stable in the follow-up period. Symptom improvement was linked to life satisfaction gains during therapy. Men were more often singles and less satisfied with their partnership situation than women. Current partnership, employment, and no previous therapy experience were associated with higher life satisfaction at baseline. However, only the partnership situation was a positive predictor of life satisfaction gains at follow-up. In conclusion, our results showed that life satisfaction could be improved with CBGT for SAD. Additional interventions may be necessary to increase the satisfaction of men with their partnership situation and to support single patients in the practice of social skills outside of the group.