This paper presents a new measure for assessing quality of life (QOL) -the Multidimensional Quality of Life (MQOL)- and describes its derivation, characteristics, structure and several applications. Reasons for developing the MQOL include the restricted range of assessed domains and the heavy emphasis on health in many standard assessment tools. The MQOL was derived by meaning probes into QOL in different samples. It is a 60-item self-report tool of high reliability and validity covering various themes and forming, in line with factor and cluster analyses, 17 scales that constitute five factors according to confirmatory factor analysis. It has been applied with thousands of individuals, in English, Hebrew, Russian and Arabic, and is adequate for healthy and physically or mentally sick individuals, under regular or challenging circumstances. Described studies present findings in samples of sick or healthy individuals (e.g., unemployed, members of a collapsing Kibbutz); relations between the MQOL and coping strategies in partners of sick individuals; and interrelations of overall and scale scores in new and old immigrants. Conclusions focus on the structure of the MQOL, the specificity of coping effects, and the stabilizing mechanisms of QOL.