Previous procrastination research has provided considerable support for procrastination as a failure of self-regulation. However, procrastination has rarely been examined in relation to models of self-regulated learning. The purpose of this study was to understand the motives and reasons for academic procrastination from a self-regulated learning perspective. The current study employed a mixed-methods design in which participants completed several survey instruments of academic procrastination, self-regulation, and academic motivation and participated in semi-structured interviews. Findings indicated that academic procrastination was related to poor self-regulatory skills and defensive behaviors including self-handicapping strategies. Only limited support for students’ demonstration of procrastination as an adaptive behavior (or, active procrastination) was also indicated. Limitations and implications for future research are discussed.