Using the micro data of Chinese General Social Survey (CGSS) in 2017, this paper analyzes the logical relationship between intergenerational care, intergenerational support and subjective well-being of the elderly. The study found that intergenerational care can significantly enhance the subjective well-being of the elderly, and there are age and income heterogeneity. Further analysis found that there is a partial mediating effect of intergenerational support in the effect of intergenerational care on the subjective well-being of the elderly. Based on this, it is necessary to build an elderly care service system that is coordinated by home-based community institutions and combined with medical care and health care, vigorously develop an inclusive nursery service system, establish and improve the nursery policy and mechanism, and promote the professional and standardized development of infant care services.