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Aim of the present research consisting of two studies with university undergraduates (N1 = 209; N2 = 169) was to explore the relationship between motivational self-regulation, student motivation, and satisfaction with academic studies. We investigated whether students’ satisfaction with study content, with coping with academic stress, and with study conditions can be predicted by their self-efficacy in motivational regulation. Furthermore, we were interested in the question whether expectancy, value, and cost components of student motivation mediate the relationship between the self-efficacy in motivational regulation and the three examined aspects of satisfaction. Results of both studies confirmed the assumed positive impact of self-efficacy in motivational regulation on different aspects of satisfaction with academic studies and provided support for our mediation hypotheses.