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' language proficiency as well as their reading comprehension. To do so, 115 Iranian EFL university students were selected. First, a TOEFL test was given to the participants so as to determine their language proficiency and reading comprehension. Then, they were asked to fill out Self-Regulated Learning Strategies Questionnaire (Al Asmari & Mahmoud Ismail, 2012). To analyze the data, descriptive statistics and Pearson correlation were conducted. The results revealed that there is a significant relationship between the students' use of self-regulated learning strategies and their language proficiency. Also, a significant relationship between the students' use of self-regulated learning strategies and their reading comprehension 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.