Abstract: The article presents results of the empirical social-psychological research. 83 Russian second- and third-year elementary school students of Smolensk (47 girls and 36 boys) aged from 7 to 9 participated in the research. The subject of the research is the contents and emotional predictors of elementary school students' preceptions of their and others' ethnic groups. Ethnic groups they represented included Russian, Belorussian and Ukrainian. Emotional predictors included affective components of ethnic identity of elementary school students as well as their level of satisfaction with different sides of their own life. Empirical data were collected through survey (interviewing) of elementary school students. Each respondent was interviewed individually. The authors of the article analyze data obtained using the modified method of studing racial and ethnic attitudes offered by Doyle and Aboud (adapted by N. Sheskina for Russian elementary school students), modified method of diagnosing the level of social frustration by L. Wasserman and analyzing responses of children to the questions aimed at defining the affective component of their ethnic identity. These data were processed by using Statistica 7.0 program, methods of descriptive statistics, Mann-Whitney U-test, Fisher's angular transformation (φ*-criterion), regression analysis (Forward stepwise method). As a result of the empirical research, the majority of elementary school students demonstrate a positive ethnic affective identification and differentiation and tendency to be more positive about their own ethnic group compared to others. The author registered a high subjective importance of ethnicity for elementary school students disregarding their positive or negative affective attitude towards members of their ethnic group. The authors discover that the emotional predictor of how elementary school students preceive their or others' ethnic groups is their subjective sense of well-being in the spheres related to a child's school life and his or her success. The factor that is especially important in the formation of a positive attitude to their and others' ethnic groups is the level of satisfaction of elementary school students with the relations they have with their classmates. The results of the research underline the important role of the elementary school age in the process of ethnic identity formation and draw our attention to targets of ethnic intolerance prevention and correction of children's ethnic perceptions. The results also prove a close connection between child's subjective sense of well-benig and his or her attitude towards their and others' ethnic groups.