This study investigated the relationship between motivation and self-regulated learning (SRL) in a nationally representative sample of 5245, 15-year-old students in the USA. A multivariate multilevel analysis was conducted to examine the role of three motivational variables (self-efficacy, intrinsic value & instrumental value) in predicting three SRL strategies (memorization, elaboration & control). The results showed that compared to self-efficacy, intrinsic value and instrumental value of math were stronger predictors of memorization, elaboration and control strategies. None of the motivational variables had a stronger effect on one strategy than the other. The findings suggest that the development of self-regulatory skills in math can be greatly enhanced by helping students develop positive value of and realistic expectancy for success in math.