The major purpose of this study is to investigate the direct and indirect influences of parenting styles (authoritarian, authoritative and permissive) on educational adjustment and psychological well-being mediated by self-regulation and Internet addiction among university students in Thailand. Self-Regulation Questionnaire (SRQ), the Internet Addiction Scale (IAT), the Parental Authority Questionnaire (PAQ), Educational Adjustment Scale (EAS) and the Satisfaction with Life Scale were the instruments used to collect data from 794 university students from 10 universities in Thailand. The results indicated a direct positive relationship between authoritarian parenting style and life satisfaction and educational adjustment. Permissive parenting style also has a positive relation on educational adjustment. The result also indicates an indirect influence of authoritative parenting styles on education adjustment mediated by self-regulation and Internet addiction. The more authoritative their parents are, the better students state are their self-regulatory skills and educational adjustment. Also, the more authoritative the parents were the lower were their students' addiction to the Internet and the better were their students' educational adjustment. The general parenting style in the Thai setting tends to be authoritarian and Thai students report experiencing higher life satisfaction with this style.