The present study examined the relationships between perceived leadership, group cohesion, online engagement, self-regulation and learning outcomes. Data included surveys and online discussion logs from 171 students in an undergraduate online course. Through correlation analysis and structural equation modeling, the results revealed unique contributions of task and relationship leadership in small group collaborative learning. Each form of leadership may translate into greater use of self-regulation strategies that align with students' focus on either the instrumental or interpersonal resources related to academics but may bring about a corresponding lower utilization of other types of self-regulation strategies. Further, results indicate that students' perceptions of group cohesion provided the most robust and multifaceted positive associations with learning engagement.