Self-regulated learning strategies have recently received a remarkable attention by researchers. The aim of this study was to explore the relationship between self-regulated learning strategies and students' reading comprehension ability as well as their language proficiency. To do so, 115 university students majoring in TEFL were selected. First, a TOEFL test was given to the participants so as to determine their language proficiency as well as reading comprehension ability. Then, they were asked to fill out self-regulated learning strategies questionnaire. In order to analyze the data obtained, descriptive statistics and Pearson correlation were conducted. The results of data analyses revealed that there is a significant relationship between the students' use of self-regulated learning strategies and their reading comprehension ability. Also, a significant correlation between the students' use of self-regulated learning strategies and their language proficiency was found. Finally, the pedagogical message of this study is that teachers and students should incorporate self-regulated learning strategies into their teaching and learning process.