The research purpose was to look into the relationship between the aspects of counterfactual thinking and the quality of life among the university students. Our sample comprised 183 students drawn from Isfahan University who were selected through cluster random sampling. They underwent the test by receiving and responding to "The World Health Organization Quality Of Life Questionnaires" abbreviated (WHOQOL) and also "Counterfactual Thinking for Negative Events Scale (CTNES)". The results indicated that upward self-referential thinking style is significantly positively correlated with physical health, additionally downward nonreferential thinking style was shown to correlate highly and negatively to physical, mental and environmental health, furthermore upward other-referential thinking style and upward nonreferential thinking style were shown to be significantly, negatively correlated to mental, physical and environmental health. The analysis of the obtained results which were statically confirmed by the regression analysis revealed the predictive power of upward self-referential thinking style in predicting the physical health, mental health, environmental health and social relations and the predictive power of downward nonreferential thinking style in predicting the environmental health.