We develop a person-oriented conception of happiness (POCH), which is based on the ideas of systemic approach. POCH synthesizes eudaimonic and hedonistic traditions in the studies of happiness and subjective well-being. We show that POCH integrates not only several personality theories developed at the beginning-mid XXth century, but also some modern conceptions of eudaimonia. We demonstrate that POCH can be invoked to solve many important problems of modern psychology. Perspectives of our further investigations are also outlined.