Findings in different contexts suggest that task orientation and ego orientation are related to adaptive and maladaptive motivational patterns, respectively. In sport, these personal dispositions could influence other important variables such as the goals that athletes pursue (and why they pursue them) during the season and their well- and ill-being. The main purpose of this research was to examine the relationship between athletes' dispositional goal orientations, their goal motives, and their reported well-being (subjective vitality) and ill-being (physical and emotional exhaustion). The study involved 414 Spanish university athletes (206 female and 208 male) with an age range of 17 to 33 years (M = 20.61; SD = 2.58) that completed a package of questionnaires at the beginning of the season. Results of path analysis revealed that athletes' task orientation was negatively associated to physical and emotional exhaustion indirectly through autonomous and controlled goal motives. In contrast, ego orientation was positively related to physical and emotional exhaustion via its link to controlled goal motives. Athletes' task orientation directly and positively predicted subjective vitality, even though goal motives were not significant mediators. These findings support previous evidence about the protective role of athletes' task orientation, in contrast to ego orientation, confirming its positive relationship with well-being and its negative one with ill-being. Additionally, it extends the knowledge regarding interdependencies between goal orientations and goal motives and how both contribute to athletes' optimal or compromised functioning.