This study investigated the association between contingencies of self-worth (CSW) and workers’ mental health. CSW is a concept to capture individual differences in the domains in which a person has staked his or her self-esteem. Specifically we examined two types of CSW, namely, autonomy in work (autonomy contingency: AC) and feeling superior to others (superiority contingency: SC). We predicted that AC would positively associate with perceived value of job contents, which in turn would be linked with increased subjective well-being (SWB) as well as decreased psychological distress, while SC would not associated with perceived value of job contents. We conducted an online survey study with full-time employees in Japan (N = 450). As predicted, AC was associated with greater perceived value of the job contents, which in turn was linked with increased SWB and decreased psychological distress. On the other hand, SC was not associated with perceived value of job contents, but was directly linked to increased psychological distress.