The research on the effects of metacognitive strategy awareness and self-regulation on second language reading achievements has come to confirmatory conclusions. However, the associations and possible interactions between metacognitive and self-regulatory capacities have been subject of debate. Theoretically, the relationship between the two global skills in affecting learning has ranged from rivaling alternatives to complementary associates. Accordingly, some recent perspectives have delineated the relative potency of the two concepts within models where metacognitive, behavioral, motivational and emotional dimensions of learning interact. This study resorted to structural equation modeling in outlining and testing the causal relationships between three types of metacognitive reading strategies, namely global, problem-solving, and support strategies, and selfregulation in affecting reading proficiency. The data were collected from 311 Iranian undergraduate students majoring in English using Metacognitive Awareness of Reading Strategies Questionnaire, Self-Regulation Questionnaire and reading proficiency test. By testing the hypothesized model against several fitness criteria, the causal relationships among the variables were confirmed indicating a positive ABOUT THE AUTHORThis article is the report of an MA thesis project carried out at Azarbaijan Shahid Madani University in Iran. Davoud Amini is assistant professor of TEFL at Azarbaijan Shahid Madani University. His areas of interest are psychology of second language acquisition and second language skills. He has published books and articles in these areas. Currently, he is the head of the English Department at Azarbaijan Shahid Madani University. Mostafa Hosseini Anhari is MA in TEFL. He is interested in second language learning strategies. Abolfazl Ghasemzadeh is associate professor of Educational Administration at Azarbaijan Shahid Madani University. His main research interest lies in educational leadership, administration, and human resource development of educational institutions. He has published over 50 journal papers in these areas.