To explore the influence of regulatory mode on nostalgia, and the mediating role of counterfactual thinking and regret, a total of 398 college students were investigated by the Regulatory Mode Scale, Southampton Nostalgia Scale, Counterfactual Thinking for Negative Events Scale and Subjective ratings of regret.The results showed that: (1) The regulatory mode had negative effects on counterfactual thinking, regret and nostalgia, specifically, compared to locomotors, assessors were more likely to experience counterfactual thinking, regret and nostalgia. (2) Counterfactual thinking and regret respectively mediated the effect of regulatory mode on nostalgia. (3) Regulatory mode affected nostalgia through the serial mediating effect of counterfactual thinking and regret. The results of this study provide guidance for further understanding the preferences of different regulatory mode in terms of nostalgia and their mediating mechanisms. It also has important reference value for promoting the rational use of nostalgia for college students with different regulatory modes to cope with threats, regulate emotions and promote mental health.