Nostalgia is defined as “a sentimental longing or wistful reflection for the past.” This study examined the individual differences on the effect of emotions on music-evoked nostalgia. The study focused on traits associated with positive and negative emotions, specifically, dysphoria and subjective happiness. Participants listened to nostalgic music before and after responding to a questionnaire measuring traits and mood states. Results showed that the degree of music-evoked nostalgia was reduced only when levels of dysphoria and subjective happiness were both low. This is the first study to demonstrate the relationship between nostalgia evoked by music, and traits associated with positive emotion.