Since research on self-regulated learning has underemphasized the aspect of motivational regulation, we propose a new conceptual model in this article that aims to explain relevant processes and structures regarding the self-regulation of motivation. Furthermore, we describe an empirical analysis of central aspects of the new Motivational Regulation Model. A total of 301 twelfth grade high school students were surveyed with respect to their use of motivational regulation strategies while preparing for an exam. Path analysis results yielded support for the expected indirect effect of motivational regulation on achievement. Motivational regulation strategies were positively related to students' current learning effort, which in turn was associated with better exam grades. Moreover, the effects of some strategies differed between school subjects while other strategies had effort enhancing effects independent of the subject considered. Altogether, the results provide support for the Motivational Regulation Model and also emphasize the need for a more sophisticated analysis of the self-regulation of motivation. (Contains 3 figures and 3 tables.)