The present study investigates the relationship between working memory capacity, cognitive regulation, and academic achievement for university students. Additionally, it examines whether working memory capacity and/or cognitive regulation can predict academic achievement. For the 139 university students who took part in the study, working memory capacity was measured via a digit span test, cognitive regulation was measured via the MAI (Metacognitive Awareness Inventory), and academic achievement was measured via GPA. The results indicate that there is a significant relationship between working memory capacity and cognitive regulation ability, that cognitive regulation had a marginally stronger correlation with GPA than working memory capacity did, and that the working memory ability and cognitive regulation model was a good predictor of academic achievement for the sample studied.