The ability to delay gratification is the cornerstone of all academic achievement and education. It is by delaying gratification that learners can pursue long-term academic and career goals. In general, "delay of gratification" refers to an individual's ability to forgo immediate rewards for the sake of more valuable ones later (Mischel, 1996). Individuals who are able to delay gratification are known to have higher intelligence and higher academic achievement and to be more socially well adapted than individuals who succumb easily to immediate impulses and temptations. Given the importance of delay of gratification for academic success, one might expect, therefore, that the conceptualization of this construct and its educational implications should be reasonably understood by learners and educators. In spite of its significance, little is known about delay of gratification among college and university students. This chapter reviews the association between academic delay of gratification and students' motivational beliefs and use of self-regulated learning strategies. (Contains 1 table.)