The aim of this study was to examine the effects of illness acceptance on the subjective health of hospitalized chronic medical patients. Participants were 128 patients with a previous diagnosis of chronic coronary artery disease, cancer, or chronic renal disease, who were admitted to a public hospital. Illness acceptance was associated with higher levels of subjective health. It was negatively related to psychological symptoms and positively to self-rated health, even after controlling for demographic variables, type of disease, years since diagnosis, health-related quality of life and hospitalization stress. Furthermore, acceptance mediated the effects of hospitalization stress on subjective health measures.