From the perspective of fairness，this paper studies the influence of income and social status on the happiness of Chinese people． A theoretical model is first established to make the analysis and then an empirical study is made using the data of China Labor-force Dynamics Survey of ( CLDS) 2012 and 2014． This study shows that: 1) generally speaking，income has a positive effect on happiness，but the sensitivity of the income to happiness decreases with income; 2) social status is an important factor influencing happiness，and its contribution to happiness in China exceeds that of income，and the influence of social status on happiness increases with income; 3) the effect of fairness perception on happiness is becoming more and more important，and even shows greater effect than that of income and that of social status． Collectively，this paper gives a reasonable explanation of this phenomenon and some proposals to speed up the construction of social fairness and justice systems in China．