This study uses structural equation modeling (SEM) to test the impact of occupational stress on the job satisfaction of nurses. Research data were collected from 228 nurses working at central hospitals under the Ministry of Health in Vietnam. The research results indicate that psychological morbidity, work pressure, pressure from the manager, workplace relationships, income pressure, and working conditions affect nurses' occupational stress. Most importantly, the study has demonstrated that occupational stress negatively impacts nurses' job satisfaction.