The temporal dynamic characteristics of mood play an important role in various aspects of our lives, including our psychological health and well-being. It is assumed that individuals with high emotional intelligence (EI) are characterized by more positive and stable moods. However, most studies analyze how EI is related to emotional traits or momentary assessments of mood, hence not much is known about the relationship of EI to mood dynamics. The present study aimed at answering the following questions: How are dynamic characteristics of mood related to each other? To what extent are they independent? Which aspects of EI are related to particular characteristics of mood dynamics? Participants filled out an EI questionnaire and then reported their mood three times daily for two weeks. Mean mood scores calculated across all measurement points were regarded as static characteristics showing a mood background typical for the participant. Also, three dynamic characteristics of mood were calculated, namely variability, instability, and inertia. Mood variability and instability have been found to be very closely related to each other but not to inertia. Higher EI is related to more enduring mood states, i.e., higher mood inertia and a higher stability of the tension dimension of mood. Unlike previous studies that measured only static mood characteristics, no relationship between higher EI and positive mood have been found. Some aspects of EI were related to the inertia of negative and positive moods. The results show that experience sampling provides new insights on the role of EI in mood.