As a key process of self-regulated learning, effective motivational regulation is assumed to facilitate successful studying via optimized motivation. Our research aimed to test this assumption addressing the relationship between self-efficacy for motivational regulation and three dimensions of satisfaction with academic studies with respect to the potential underlying mechanisms in terms of the expectancy, value, and cost components of motivation, controlling for relevant covariates. Results of two studies with STEM undergraduates (N₁ = 209; N₂ = 169) consistently revealed self-efficacy for motivational regulation as a positive predictor of satisfaction with study content and satisfaction with coping with study-related stress, indicating the presence of indirect effects, which varied across the two satisfaction dimensions. Results regarding satisfaction with study conditions were, however, not consistent. Overall, our findings underline self-efficacy for motivational regulation as an important yet overlooked constituent of an effective motivational regulation process contributing to academic satisfaction in higher education.