Two studies focusing on the development and validation of the Online Self‐Regulated Learning Inventory (OSRLI) were conducted. The OSRLI is a self‐report instrument assessing the human interaction dimension of online self‐regulated learning. It consists of an affect/motivation scale and an interaction strategies scale. In Study 1, exploratory factor analysis of an initial affect/motivation item pool yielded four factors: enjoyment of human interaction, self‐efficacy for interaction with instructors, concern for interaction with students, and self‐efficacy for contributing to the online community. Exploratory factor analysis of an initial learning strategies item pool revealed three factors: writing strategies, responding strategies, and reflection strategies. In Study 2, confirmatory factor analysis was conducted in order to evaluate the stability of multidimensional factor structures. These exploratory and confirmatory factor analyses showed the OSRLI to be statistically moderate in terms of reliability and validity.