The aim of this study was to examine a model on the contribution of school assets on the development of adolescent´s well-being and school success. The sample comprised 1944 adolescents (893 girls and 1051 boys) aged between 12 and 17 years (M = 14.4; SD = 1.13), from secondary schools in Western Andalusia, which completed some self-report questionnaires. The results of structural equation modeling showed the goodness of fit of the initial theoretical model. This model confirmed the importance of school connectedness as a key factor in the relationships between other school assets (social climate; clarity of the rules and values, and positive opportunities and empowerment) and commitment to learning, academic performance and life satisfaction. However, the re-specification of the initial model considered two complementary paths with theoretical sense: first, a direct influence between clarity of the rules and values and commitment to learning, and second, between academic performance and life satisfaction. This model obtained better goodness of fit indices than the first one: χ2 = 16.32; gl = 8; p = .038; χ2/gl = 2.04; SRMR = .018; RSMEA = .023 (95% C.I. = .005; 040); NNFI = .98; CFI = .99. From our study, the need to invest in initiatives focused on the promotion of adolescents’ links with their school emerges as a key goal to contribute towards, at the same time, both a good academic performance and a better life satisfaction.