In this article we examine the factorial structure of the Greek version of the Zimbardo Time Perspective Inventory (ZTPI; Zimbardo and Boyd in "J Personal Soc Psychol" 77:1271-1288, 1999), in a sample of 337 university students, using principal axis factoring (PAF) with oblique rotation, and its dimensionality using parallel analysis. Moreover, we evaluate the internal consistency reliability, the convergent validity (through associations with mental health indicators such as dispositional optimism, self-esteem, trait anxiety, depression, and proactive coping), as well as discriminant, and differential validity of this instrument. The results indicated that the ZTPI had a 5-factor structure (past negative, past positive, present fatalistic, present hedonistic, future). Correlational analyses indicated that an aversive view of the past, and a fatalistic attitude toward life were positively and significantly associated with trait anxiety and depression, while they were negatively correlated with self-esteem, proactive coping, and dispositional optimism. Future time perspective was positively associated with proactive coping, whereas a positive attitude toward the past was negatively associated with depression and trait anxiety. Psychometric properties of the five ZTPI scales were satisfactory (Cronbach's alphas ranging from 0.710 to 0.845), thus facilitating the robust investigation of time perspective in Greek speaking populations. However confirmatory factor analyses revealed that the "positive attitude toward the past" dimension might not be a good indicator of time perspective. We discuss the theoretical implications of these findings for future studies of time perspective.