Research highlights the significance of positive sexual self-perceptions for general and sexual health. Yet, most research on the sexuality of lesbian, gay, and bisexual (LGB) individuals has been risk-oriented, leaving a critical gap in knowledge about normative and healthy sexuality among sexual minorities. In part, this gap is due to a lack of sexual health measures with established psychometric properties for LGB individuals. The current study examined the factor structure, reliability, factorial invariance, and validity of the Sexual Subjectivity Inventory (SSI) in a sample of 746 lesbian (n = 123), gay (n = 204), and bisexual (n females = 234; n males = 185) emerging adults (Mage = 23.4 years). Factor analyses revealed the same five-factor structure found in similar aged heterosexual samples and strict factorial invariance by sexual and cisgender identities. Factor scores were internally consistent and associated with indicators of sexual well-being (i.e., safe sex self-efficacy, internalized homonegativity) and general well-being (life satisfaction, identity achievement) in theoretically meaningful ways. Sexual subjectivity was largely unrelated to health risk behavior. Results support the use of the SSI with LGB emerging adults for advancing holistic perspectives on LGB sexuality.