Abstract Psychological well being components has a basic role in students as in school achievement as in mental health. Although, the studies have showed that self regulation play a main role on mental health, but any study has done that show the relationship between of self-regulated learning strategies and positive mental health especially psychological wellbeing. The aim of the present study was to determine the relationship between students’ self regulation learning strategies and psychological well- being condition at the first grade of high schools of Gonabad in the school year 2010- 2011. At this descriptive- analytical research, based on Morgans table, The sample size included 141 boys and 128 girls that were selected as cluster sampling method. Pintrich and Dygrout's self-regulation and Ryff's psychological well-being questionnaires were used for data collection. Data gathered were analyzed using SPSS-16 software program and regression test. The results showed that total self regulation learning strategies as well as cognitive and meta-cognitive strategies, goal orientation, and intrinsic value have the positive role and test anxiety had a negative role in prediction of psychological well-being. According to the results, self regulation learning strategies has a positive effect on positive dimensions mental health of students or psychological well being condition. Thus, it is recommended teaching of self regulated learning strategies for students as a promotive strategy in mental health.