<p>Parental well-being has critical implications for child development, fertility patterns, and broader societal dynamics. While life satisfaction among parents in different-sex unions is well-documented, comparatively little is known about the experiences of same-sex parents, particularly using nationally representative, cross-country data. This study addresses this gap by examining variation in life satisfaction by parenthood status among men and women in same-sex and different-sex unions across six European countries (Norway, Denmark, Germany, France, Ireland, and Italy), using pooled data from eleven rounds of the European Social Survey (2002–2023). Grounded in minority stress and egalitarian division-of-labour frameworks, but also informed by evidence of minimal differences in relational and family functioning, this study tests competing hypotheses: that same-sex parents experience lower, higher, or comparable life satisfaction to different-sex parents. Results indicate that, on average, there is no difference in the parenthood–life satisfaction link between same-sex and different-sex couples for men. For women, however, a significant motherhood gap emerges: when the youngest child is aged three or younger, mothers in different-sex unions report higher satisfaction than those in same-sex unions. Substantial cross-national heterogeneity also emerges. For both men and women in same-sex unions, parenthood is associated with a penalty in Germany, whereas a premium emerges in Denmark—a context of high societal acceptance—and surprisingly, in Italy, where the lack of formal recognition may render parenthood itself legitimising and therefore particularly rewarding. These findings suggest that parental well-being is shaped by a complex interplay of legal recognition, social acceptance, and gendered norms.</p>