The topic of emotion regulation has become increasingly popular in clinical psychology. However, the question arises to what extent the popularity of the construct is consistent with its validity and actual heuristic value. Thus, the aim of the present review is to provide a current overview of conceptualizations of emotion regulation, of available assessment methods, of research investigating the association between emotion regulation and mental health, and of therapeutic utilizations of the paradigm. Based on a critical reflection of these research areas, suggestions are formulated on how the validity and fruitfulness of this innovative concept can be further enhanced. © Hogrefe Verlag, Göttingen 2014.