Aims: This study explored university students’ adversity quotient and its relationship with students’ achievement motivation and self-regulated learning strategies in the Chinese context. Methods: A total of 319 Chinese university students responded to a questionnaire that measures the adversity quotient (control, ownership, reach, endurance, and transcendence), achievement motivation (motive to success and motive to avoid failure), and self-regulated learning strategies (general strategies for learning and clarification strategies for learning). Confirmatory factor analysis and structural equation modeling were employed to analyze the data. Results: The results indicated that (1) control and ownership directly and positively correlated with self-regulated learning strategies; (2) control and endurance positively correlated with self-regulated learning strategies mediated by their motive to achieve success; (3) reach negatively correlated with students learning strategies through the motive to achieve success; and (4) control, ownership, and endurance negatively correlated with the motive to avoid failure while reach was positively correlated with it. Conclusions: This study shows that developing university students’ adversity quotient is essential. It implies that achievement motivation can be one possible mechanism underlying relationships between the adversity quotient and self-regulated learning strategies.