The aim of this study was to examine the companionship of psychological hardiness, narcissism, and perfectionism on depression tendency among undergraduate students in Oyo State, Nigeria. A qualitative research design by means of correlational approach was adopted to pilot the study. A total of one thousand and eighty-six (1086) participants selected through a process of stratified random sampling from Oyo State, Nigeria, partook in the study. Four measuring instruments: Depression Proneness Rating Scale-11 (α=.77), Dispositional Resilience Scale (α= .73), Almost Perfect Scale-Revised (α= .87), and Pathological Narcissism Inventory (α= .91) were used to garner data. Collected data were subjected to analysis through Pearson Product Moment Correlation and Multiple regression model. Findings revealed that a combination of predictor variable accounted for 42% of the total variance in depression tendency (R2=.417; F (5,1080)= 154.768; p<.01). Independently, psychological hardiness (r=-. 404; β-.236; t= -9.486; p<.01), Normal Perfectionism (r= -.370; β= -.355; t=-12.530; p<.01), and narcissistic grandiosity (r= .238; β=-.213; t= -7.532) yielded anti correlational relationship with depression tendency. However, the relationships of Narcissistic Vulnerability (r=.282; β=286; t=9.866; p< .01) and neurotic perfectionism (r= .238; β=.278; 10.031; p<.01) with depression tendency yielded positive prediction. The study outcomes were discussed, and the studied variables were recommended to be considered while diagnosing depression symptoms among undergraduate students.