The effects of acute stress on memory encoding are complex. Recent work has suggested that both the delay between stress and encoding and the relevance of the information learned to the stressor may modulate the effects of stress on memory encoding, but the relative contribution of each of these two factors is unclear. Therefore, in the present study, we manipulated (1) acute stress, (2) the delay between stress and encoding, and (3) the relevance of the information learned to the stressor. The results indicated that stress during encoding led to better memory for study materials that were related to the stressor relative to memory for study materials that were unrelated to the stressor. This effect was numerically reduced for materials that were encoded 40 min after stressor onset (23 min after the stressor had ended) compared with items encoded at the time of the stressor, but this difference was not significant. These results suggest that the relevance of the information learned to the stressor may play a particularly important role in the effects of stress on memory encoding, which has important implications for theories of stress and memory.