Locus of control has been highlighted as a variable related to mental health and well-being, as well as being indicated as a predictor for psychopathologies such as depression and anxiety. To verify these relationships, the aim of this study was to present two path analysis models related to the associations between locus of control, depression, anxiety, and emotional dysregulation. A sample of 327 participants (Mage = 38.3 years, SD = 12.8), of both genders (Fem. = 75.2%), completed a sociodemographic questionnaire, the Locus of Control Scale (ELOCUS), the Baptista Depression Scale (EBADEP-A), the Emotional Dysregulation Scale (EDEA), and the Cognitive Anxiety Scale (ECOGA). Spearman correlations and path analyses were performed for the two proposed models. In the first model, the locus of control was a predictor of emotional dysregulation, symptoms of depression and anxiety. In the second model, the locus of control mediated the relationship between factors of emotional dysregulation (seeking strategies and pessimism) in relation to depression and anxiety. It was concluded that the locus of control is an important construct in the direct or indirect prediction of psychopathological symptoms.