The current research aims to investigate the relationship between identity formation processes and the manifestation of symptoms of general distress in emerging adults. For the purpose of the study, 237 university students from five Universities in Greece, aged from 18 to 25, completed the following questionnaires: Dimensions of Identity Development Scale (DIDS), Symptom Checklist 90 – Revised (SCL – 90 – R) and a demographics questionnaire. The results showed that ruminative exploration and identification with commitment can significantly predict the intensity of distress symptoms. As hypothesized, significant, positive correlations emerged between the identity commitment dimensions, as well as among the identity exploration dimensions. As expected, the identity commitment dimensions were negatively correlated with ruminative exploration. However, their correlation with in-depth exploration was found negative, whereas with in-breadth exploration was found insignificant. Significant differences were observed in the levels of commitment making and ruminative exploration in regard to participants’ type of accommodation, financial status and financial independence. Most scales showed overall good reliability, with the exception of in-depth exploration, the reliability of which was found questionable.