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This study was designed to investigate the relation between Materialistic Value, Spiritual Oneness Belief and Physical Oneness Belief with Happiness. Positive psychology define happiness as nothing else than an emotion, a long-term sense of emotional well-being and contentment - a broad "feeling" that one is happy. The sample consisted of 100 (50 males and 50 females) young professionals (public and private sectors), selected randomly from various organizations of Kolkata and Howrah districts. 3 adapted scales namely- Materialistic Value Scale by Richin (2004), Oneness Belief Scale by Garfield, Drwecki, Moore, Kortenkamp and Gracz (2012) and Oxford Happiness Questionnaire by Michael Argyle and Peter Hills (1998) were administered to the selected respondents. The results revealed that Materialistic Value was negatively and significantly correlated with Happiness and Physical Oneness Belief was positively and significantly correlated with Happiness. Spiritual Oneness Belief showed a mild positive correlation with Happiness. Linear regression revealed Materialistic Value to be a negative predictor of Happiness and it could predict only 11.5% of the variance. The study has applications in the field of positive psychology. [ABSTRACT FROM AUTHOR]