Purpose To determine the role of Health Behaviors and Cognitive Emotion Regulation Strategies in the relationship between Health and Academic Stress. Design A cross-sectional study with in-person administration of questionnaires. Setting Data collection took place at nine public and private universities in Peru, involving a diverse group of students from different faculties. Sample 1640 students, a majority of them female (61.8%), ranging in age between 18 and 30 years old ( M = 20.72; SD = 2.22). Measures A sociodemographic form was used to collect participants’ sociodemographic, academic, and health data. Academic stress was measured by the Inventory of Academic Stress (SISCO). Health habits were assessed using the University Students Lifestyle Questionnaire (CEVJU-Perú). The Cognitive Emotion Regulation Questionnaire (CER-Q) and the SF-36 Questionnaire were also used to evaluate cognitive emotion regulation strategies and health-related quality of life, respectively. Results The SEM model results ( x 2 /df = 2.30, CFI = .95, RMSEA = .03, SRMR = .04) reveal that Academic Stress has direct and indirect effects on Health. Negative Emotional Regulation have a negative impact on Health, this effect is direct; while Positive Emotional Regulation has an effect on Health, this effect is direct and indirect, the latter is through Sleep Management, Physical Activity and Leisure Management. In addition, Academic Stress maintains a direct effect on only one health behavior, Sleep Management. Conclusions This study’s findings contribute to a better understanding of the role played by emotion regulation, and by positive strategies in particular, in student health.