The study assessed the wellbeing of farmers under the University-Based Agricultural Extension System in selected communities in Ogun State. Multistage sampling procedure was deployed in sampling 60 each of UBAES and ADP beneficiaries. Interview schedule was used to gather data which was analyzed using both descriptive and inferential statistics at P=0.05. UBAES beneficiaries mainly accessed training on harnessing farmers groups for increased production (x=2.72), family welfare and food nutrition programme ( x =2.67) while their ADP counterparts had capacity building on financing agricultural production ( x =2.65) and training on harnessing farmers group for increased production ( x =2.37).Increased access to agricultural credit (x =1.67) and enhanced production skill ( x =1.53) were benefits derived by ADP beneficiaries while UBAES beneficiaries had improved level of living ( x =1.88) and increase in crop production ( x =1.87) as benefits derived. UBAES beneficiaries were better off in material (81.7%), social (76.7%) and psychological (83.3%) wellbeing, while ADP beneficiaries were better off in economic (65.0%) wellbeing. Significant relationship existed between the estimated monthly income (r=0.249), frequency of service accessed (r= 0.0314) and wellbeing under UBAES. Significant difference (p= 0.000) was established between the wellbeing of UBAES and ADP beneficiaries. UBAES is considered a more potent platform for enhancing farmers’ wellbeing